Thrivent Financial for Lutherans Purchases 4,769 Shares of Targa Resources Corp. (NYSE:TRGP)

Thrivent Financial for Lutherans raised its position in shares of Targa Resources Corp. (NYSE:TRGP) by 51.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,106 shares of the pipeline company’s stock after purchasing an additional 4,769 shares during the period. Thrivent Financial for Lutherans’ holdings in Targa Resources were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new stake in Targa Resources during the second quarter valued at $29,000. DT Investment Partners LLC bought a new stake in Targa Resources during the third quarter valued at $29,000. UMB Bank n.a. boosted its stake 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 valued at $30,000 after buying an additional 222 shares during the period. Whittier Trust Co. bought a new stake in Targa Resources during the second quarter valued at $44,000. Finally, EdgeRock Capital LLC bought a new stake in Targa Resources during the second quarter valued at $69,000. 92.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TRGP. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised their price target on Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target on Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price objective on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $176.50.

Insider Activity

In other news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,760 shares of company stock valued at $30,026,712. Corporate insiders own 1.44% of the company’s stock.

Targa Resources Stock Down 1.0 %

Shares of NYSE TRGP opened at $201.39 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market cap of $43.92 billion, a P/E ratio of 36.42, a PEG ratio of 0.80 and a beta of 2.24. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The firm has a 50-day simple moving average of $172.39 and a two-hundred day simple moving average of $146.01.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the firm earned $0.97 earnings per share. Research analysts anticipate that Targa Resources Corp. will post 6.23 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

Targa Resources Profile

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.