6,159 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in Targa Resources Corp. (NYSE:TRGP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,159 shares of the pipeline company’s stock, valued at approximately $912,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Targa Resources in the second quarter valued at about $29,000. DT Investment Partners LLC purchased a new position in shares of Targa Resources in the third quarter worth about $29,000. UMB Bank n.a. raised its stake in shares of Targa Resources by 2,220.0% in the second 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. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the third quarter worth about $35,000. Finally, Whittier Trust Co. purchased a new position in shares of Targa Resources in the second quarter worth about $44,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred 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 owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock valued at $30,026,712 over the last ninety days. Insiders own 1.44% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $203.62 on Wednesday. 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 business’s 50 day moving average price is $164.61 and its 200-day moving average price is $141.76. The firm has a market capitalization of $44.40 billion, a PE ratio of 36.82, a P/E/G ratio of 0.78 and a beta of 2.24. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $203.67.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities research analysts expect that Targa Resources Corp. will post 6.23 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TRGP shares. UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price objective on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company raised their target price on Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Argus raised Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Barclays raised their target price on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $169.79.

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.