Crossmark Global Holdings Inc. Has $1.62 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Crossmark Global Holdings Inc. grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,920 shares of the pipeline company’s stock after purchasing an additional 344 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Targa Resources were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TRGP. US Bancorp DE raised its holdings in Targa Resources by 5.6% in the 1st quarter. US Bancorp DE now owns 20,923 shares of the pipeline company’s stock worth $2,343,000 after acquiring an additional 1,113 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Targa Resources by 5.4% in the first quarter. Bleakley Financial Group LLC now owns 7,469 shares of the pipeline company’s stock worth $836,000 after purchasing an additional 380 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Targa Resources by 5.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 20,618 shares of the pipeline company’s stock worth $2,309,000 after purchasing an additional 1,066 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Targa Resources by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 262,560 shares of the pipeline company’s stock valued at $29,404,000 after purchasing an additional 40,916 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in Targa Resources in the 1st quarter valued at approximately $315,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of TRGP stock opened at $193.03 on Thursday. The stock’s fifty day moving average is $160.77 and its 200-day moving average is $139.48. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $197.14. The stock has a market capitalization of $42.09 billion, a PE ratio of 34.91, a PEG ratio of 0.78 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $0.97 EPS. Equities research analysts expect that Targa Resources Corp. will post 6.19 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Insider Activity at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,760 shares of company stock worth $30,026,712 over the last 90 days. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TRGP shares. Scotiabank increased their price objective on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. Bank of America assumed coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. The Goldman Sachs Group upped 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. Royal Bank of Canada raised their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on shares of Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $159.14.

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.