Targa Resources Corp. (NYSE:TRGP) Stock Position Decreased by Tredje AP fonden

Tredje AP fonden decreased its position in Targa Resources Corp. (NYSE:TRGP) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,129 shares of the pipeline company’s stock after selling 520 shares during the quarter. Tredje AP fonden’s holdings in Targa Resources were worth $4,266,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TRGP. Vanguard Group Inc. grew its position in Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock worth $3,025,521,000 after acquiring an additional 201,817 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Targa Resources by 231.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock worth $119,712,000 after purchasing an additional 962,073 shares in the last quarter. New Mexico Educational Retirement Board increased its position in Targa Resources by 287.3% during the first quarter. New Mexico Educational Retirement Board now owns 45,700 shares of the pipeline company’s stock worth $5,118,000 after buying an additional 33,900 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Targa Resources by 160.3% during the first quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock valued at $32,486,000 after buying an additional 178,655 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Targa Resources during the first quarter valued at about $1,910,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Muraro sold 9,900 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $130.31, for a total value of $1,290,069.00. Following the completion of the transaction, the insider now owns 186,951 shares in the company, valued at approximately $24,361,584.81. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total value of $408,180.00. Following the sale, the insider now owns 29,603 shares of the company’s stock, valued at approximately $4,027,784.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Muraro sold 9,900 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $130.31, for a total value of $1,290,069.00. Following the completion of the sale, the insider now owns 186,951 shares in the company, valued at $24,361,584.81. The disclosure for this sale can be found here. Insiders have sold 35,534 shares of company stock worth $4,788,590 over the last 90 days. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Stock Performance

NYSE:TRGP opened at $152.19 on Thursday. 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 firm’s 50-day moving average is $140.27 and its 200-day moving average is $124.73. Targa Resources Corp. has a 52-week low of $77.97 and a 52-week high of $154.24. The company has a market cap of $33.34 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.19 and a beta of 2.26.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $1.44 earnings per share. Equities research analysts anticipate that Targa Resources Corp. will post 5.89 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 1.97%. Targa Resources’s dividend payout ratio (DPR) is currently 61.73%.

Analyst Ratings Changes

A number of research analysts have recently commented on TRGP shares. The Goldman Sachs Group increased their price objective on Targa Resources from $132.00 to $147.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Barclays raised their target price 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. Finally, Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $140.54.

Targa Resources Company 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.