Targa Resources Corp. (NYSE:TRGP) Stake Boosted by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Targa Resources Corp. (NYSE:TRGP) by 50.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the pipeline company’s stock after buying an additional 337 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Targa Resources were worth $148,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources during the second quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Targa Resources during the second quarter worth approximately $44,000. Register Financial Advisors LLC acquired a new position in shares of Targa Resources during the first quarter worth approximately $45,000. Finally, Rogco LP acquired a new position in shares of Targa Resources during the first quarter worth approximately $56,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the transaction, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,534 shares of company stock valued at $26,815,021 in the last ninety days. 1.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada increased their target price on Targa Resources from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Argus upgraded Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $144.31.

Targa Resources Trading Down 2.9 %

Shares of TRGP stock opened at $161.89 on Wednesday. The firm has a market capitalization of $35.89 billion, a P/E ratio of 33.31, a P/E/G ratio of 1.28 and a beta of 2.25. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $167.79. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The stock’s fifty day simple moving average is $148.79 and its 200 day simple moving average is $131.38.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.9 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio is 61.73%.

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.