Blair William & Co. IL Acquires 638 Shares of Targa Resources Corp. (NYSE:TRGP)

Blair William & Co. IL grew its stake in Targa Resources Corp. (NYSE:TRGP) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the pipeline company’s stock after acquiring an additional 638 shares during the period. Blair William & Co. IL’s holdings in Targa Resources were worth $2,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TRGP. UMB Bank n.a. raised its position in Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Targa Resources in the 2nd quarter valued at about $44,000. Register Financial Advisors LLC acquired a new stake in Targa Resources in the 1st quarter valued at about $45,000. Rogco LP acquired a new stake in Targa Resources in the 1st quarter valued at about $56,000. Finally, EdgeRock Capital LLC bought a new position in Targa Resources during the second quarter worth about $69,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group raised their price objective on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. The Goldman Sachs Group raised their price target on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Morgan Stanley upped their price objective on shares of Targa Resources from $134.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays upped their price target on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $141.77.

Targa Resources Trading Up 1.8 %

Shares of TRGP stock opened at $155.51 on Tuesday. The stock has a market cap of $34.48 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 1.19 and a beta of 2.26. Targa Resources Corp. has a 1 year low of $77.97 and a 1 year high of $155.78. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The stock has a 50 day simple moving average of $141.42 and a 200 day simple moving average of $125.95.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same period in the prior year, the firm posted $1.44 EPS. On average, research analysts predict that Targa Resources Corp. will post 5.89 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Wednesday, July 31st. Targa Resources’s payout ratio is presently 61.73%.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the transaction, the insider now directly owns 29,603 shares in the company, valued at $4,027,784.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Julie H. Boushka sold 12,641 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the completion of the transaction, the chief accounting officer now directly owns 38,403 shares in the company, valued at approximately $5,165,203.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gerald R. Shrader sold 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at approximately $4,027,784.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,534 shares of company stock valued at $4,788,590. Company insiders own 1.39% of the company’s stock.

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.