DekaBank Deutsche Girozentrale Boosts Holdings in Targa Resources Corp. (NYSE:TRGP)

DekaBank Deutsche Girozentrale raised its position in Targa Resources Corp. (NYSE:TRGP) by 24.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 71,038 shares of the pipeline company’s stock after acquiring an additional 14,029 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Targa Resources were worth $10,380,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TRGP. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources during the second quarter worth about $29,000. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the 3rd quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in shares of Targa Resources by 2,220.0% in the 2nd 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. purchased a new stake in shares of Targa Resources in the second quarter valued at approximately $44,000. Finally, Rogco LP acquired a new position in Targa Resources during the first quarter worth $56,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Argus raised Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays raised their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their target price on shares of Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Scotiabank boosted their price target on Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 17th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $152.79.

Targa Resources Stock Up 1.4 %

Shares of NYSE:TRGP opened at $166.68 on Thursday. The company has a market capitalization of $36.52 billion, a P/E ratio of 35.09, a P/E/G ratio of 1.29 and a beta of 2.25. The stock’s fifty day simple moving average is $154.32 and its 200-day simple moving average is $135.10. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $169.92. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP) last released its quarterly 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 analysts’ expectations of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period last year, the company earned $1.44 EPS. As a group, equities research analysts forecast that Targa Resources Corp. will post 5.92 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.80%. Targa Resources’s dividend payout ratio (DPR) is currently 63.16%.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 owns 38,403 shares of the company’s stock, valued at approximately $5,165,203.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 1,213 shares of the 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 in the company, valued at approximately $6,898,969.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 175,534 shares of company stock worth $26,815,021. Insiders own 1.44% of the company’s stock.

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.