Cavalier Investments LLC Sells 115 Shares of Targa Resources, Inc. $TRGP

Cavalier Investments LLC lowered its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 1.9% during the second quarter, Holdings Channel.com reports. The firm owned 6,074 shares of the pipeline company’s stock after selling 115 shares during the quarter. Cavalier Investments LLC’s holdings in Targa Resources were worth $1,057,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRGP. GQG Partners LLC raised its stake in Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock valued at $724,560,000 after buying an additional 1,410,747 shares during the last quarter. Nuveen LLC purchased a new stake in Targa Resources in the first quarter valued at about $196,351,000. Wellington Management Group LLP raised its stake in Targa Resources by 7.5% in the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock valued at $2,764,673,000 after buying an additional 962,631 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Targa Resources by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock valued at $551,033,000 after buying an additional 834,666 shares during the last quarter. Finally, Amundi raised its stake in Targa Resources by 33.8% in the first quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock valued at $493,812,000 after buying an additional 622,096 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TRGP shares. Wall Street Zen upgraded Targa Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. TD Cowen began coverage on Targa Resources in a research note on Monday, July 7th. They issued a “hold” rating and a $192.00 price target for the company. Barclays raised their price objective on Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Stock Performance

Shares of TRGP stock opened at $151.40 on Wednesday. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $218.51. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. The stock has a market cap of $32.58 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12. The business has a 50-day simple moving average of $162.91 and a 200-day simple moving average of $165.69.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.92. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. On average, equities analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. Targa Resources’s dividend payout ratio is 56.58%.

Targa Resources Company Profile

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.