&Partners Has $1.30 Million Stake in Targa Resources Corp. (NYSE:TRGP)

&Partners grew its holdings in Targa Resources Corp. (NYSE:TRGP) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,107 shares of the pipeline company’s stock after purchasing an additional 107 shares during the quarter. &Partners’ holdings in Targa Resources were worth $1,302,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TRGP. Vanguard Group Inc. increased its holdings in shares of Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after purchasing an additional 201,817 shares in the last quarter. Blackstone Inc. raised its position in shares of Targa Resources by 2.7% during the first quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock worth $1,085,794,000 after acquiring an additional 252,729 shares during the last quarter. Norges Bank bought a new position in Targa Resources in the fourth quarter valued at about $187,123,000. Massachusetts Financial Services Co. MA increased its position in Targa Resources by 5.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,139,543 shares of the pipeline company’s stock worth $185,862,000 after purchasing an additional 115,288 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Targa Resources by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,858,920 shares of the pipeline company’s stock worth $161,479,000 after purchasing an additional 234,749 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul W. Chung sold 5,264 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $138.03, for a total transaction of $726,589.92. Following the sale, the director now owns 232,827 shares in the company, valued at approximately $32,137,110.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul W. Chung sold 5,264 shares of Targa Resources stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $138.03, for a total value of $726,589.92. Following the completion of the transaction, the director now owns 232,827 shares of the company’s stock, valued at approximately $32,137,110.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the transaction, the insider now owns 196,951 shares in the company, valued at $23,649,876.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,034 shares of company stock worth $5,623,890. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Stock Up 0.9 %

Shares of Targa Resources stock opened at $144.13 on Friday. Targa Resources Corp. has a 52-week low of $77.97 and a 52-week high of $144.84. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The business’s 50 day simple moving average is $133.71 and its 200 day simple moving average is $117.81. The firm has a market cap of $31.96 billion, a PE ratio of 29.66, a P/E/G ratio of 1.14 and a beta of 2.27.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm earned $1.44 earnings per share. On average, analysts predict that Targa Resources Corp. will post 5.8 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 2.08%. Targa Resources’s payout ratio is presently 61.73%.

Analysts Set New Price Targets

A number of research firms have commented on TRGP. Barclays lifted their target price on shares of Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. UBS Group increased their price target on shares of Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Scotiabank lifted their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Argus assumed coverage on shares of Targa Resources in a report on Wednesday, June 26th. They issued a “buy” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.54.

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.