Oxbow Advisors LLC Invests $207,000 in Targa Resources Corp. (NYSE:TRGP)

Oxbow Advisors LLC acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,162 shares of the pipeline company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in the stock. Navellier & Associates Inc. raised its position in shares of Targa Resources by 14.1% during the fourth quarter. Navellier & Associates Inc. now owns 68,138 shares of the pipeline company’s stock worth $12,163,000 after acquiring an additional 8,434 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Targa Resources by 40.0% in the fourth quarter. Allianz Asset Management GmbH now owns 890,514 shares of the pipeline company’s stock worth $158,957,000 after purchasing an additional 254,286 shares in the last quarter. RPS Advisory Solutions LLC bought a new stake in Targa Resources in the fourth quarter worth approximately $595,000. ING Groep NV increased its holdings in Targa Resources by 70.5% in the fourth quarter. ING Groep NV now owns 49,951 shares of the pipeline company’s stock worth $8,916,000 after purchasing an additional 20,651 shares in the last quarter. Finally, Aspect Partners LLC increased its holdings in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Down 1.9 %

Shares of NYSE:TRGP opened at $200.89 on Friday. The stock has a market cap of $43.81 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 0.61 and a beta of 2.29. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $95.88 and a 12-month high of $218.51. The business’s 50 day moving average is $195.91 and its 200 day moving average is $175.92.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, sell-side analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Targa Resources’s payout ratio is 52.26%.

Analysts Set New Price Targets

TRGP has been the subject of a number of research analyst reports. Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group lifted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial lowered their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Wells Fargo & Company lifted their target price on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada lifted their target price on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $203.77.

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.