Los Angeles Capital Management LLC Has $84.27 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Los Angeles Capital Management LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 69.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 472,079 shares of the pipeline company’s stock after buying an additional 194,180 shares during the quarter. Los Angeles Capital Management LLC owned 0.22% of Targa Resources worth $84,266,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TRGP. Aspect Partners LLC increased its stake in shares of Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth $35,000. Rosenberg Matthew Hamilton increased its stake in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Targa Resources during the 4th quarter worth $49,000. Finally, UMB Bank n.a. increased its stake in shares of Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRGP. Royal Bank of Canada upped their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Scotiabank began coverage on shares of Targa Resources in a report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. Truist Financial decreased their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $203.77.

Targa Resources Trading Down 1.1 %

TRGP opened at $198.19 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $43.22 billion, a PE ratio of 34.53, a PEG ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 1-year low of $95.88 and a 1-year high of $218.51. The firm has a 50-day moving average price of $195.91 and a two-hundred day moving average price of $176.53.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. As a group, equities analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is 52.26%.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.