Signaturefd LLC grew its position in Targa Resources Corp (NYSE:TRGP) by 27.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,270 shares of the pipeline company’s stock after buying an additional 1,149 shares during the period. Signaturefd LLC’s holdings in Targa Resources were worth $207,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TRGP. Tortoise Capital Advisors L.L.C. grew its stake in shares of Targa Resources by 35.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 13,153,678 shares of the pipeline company’s stock valued at $546,535,000 after buying an additional 3,454,138 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Targa Resources by 54.4% in the 1st quarter. CIBC Private Wealth Group LLC now owns 3,797,110 shares of the pipeline company’s stock valued at $157,770,000 after buying an additional 1,338,009 shares during the period. Chickasaw Capital Management LLC grew its stake in shares of Targa Resources by 20.7% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,129,598 shares of the pipeline company’s stock valued at $240,648,000 after buying an additional 1,049,863 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Targa Resources by 20.4% in the 1st quarter. Neuberger Berman Group LLC now owns 5,018,606 shares of the pipeline company’s stock valued at $208,523,000 after buying an additional 849,272 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in shares of Targa Resources by 8.0% in the 1st quarter. OppenheimerFunds Inc. now owns 7,415,134 shares of the pipeline company’s stock valued at $308,099,000 after buying an additional 549,984 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on TRGP. Barclays reissued a “buy” rating and issued a $48.00 price target on shares of Targa Resources in a research note on Thursday, July 18th. Zacks Investment Research raised shares of Targa Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 18th. Credit Suisse Group restated an “outperform” rating and issued a $44.00 price objective (down from $49.00) on shares of Targa Resources in a report on Thursday. Mizuho set a $45.00 price objective on shares of Targa Resources and gave the stock a “hold” rating in a report on Friday, July 12th. Finally, ValuEngine upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $53.53.

Shares of TRGP stock opened at $33.53 on Thursday. The business has a 50 day moving average of $38.84. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.48 and a current ratio of 0.58. Targa Resources Corp has a one year low of $33.05 and a one year high of $59.21. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 167.65 and a beta of 1.76.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, July 30th. This represents a $3.64 dividend on an annualized basis and a yield of 10.86%. Targa Resources’s dividend payout ratio (DPR) is presently 1,820.00%.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

Read More: What are the risks of holding treasury bonds?

Want to see what other hedge funds are holding TRGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Targa Resources Corp (NYSE:TRGP).

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.