Targa Resources Corp. (NYSE:TRGP) Stock Position Decreased by Qsemble Capital Management LP

Qsemble Capital Management LP lessened its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 54.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,235 shares of the pipeline company’s stock after selling 3,935 shares during the period. Qsemble Capital Management LP’s holdings in Targa Resources were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TRGP. DT Investment Partners LLC acquired a new position in Targa Resources during the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources during the 2nd quarter valued at about $29,000. UMB Bank n.a. boosted its stake in Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Prospera Private Wealth LLC acquired a new position in Targa Resources during the 3rd quarter valued at about $35,000. Finally, Whittier Trust Co. acquired a new position in Targa Resources during the 2nd quarter valued at about $44,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $176.50.

Targa Resources Stock Down 1.0 %

TRGP stock opened at $201.39 on Thursday. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The firm has a 50 day simple moving average of $172.39 and a 200 day simple moving average of $146.01. 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 firm has a market cap of $43.92 billion, a PE ratio of 36.42, a P/E/G ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities research analysts forecast 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Targa Resources’s dividend payout ratio is currently 54.25%.

Insider Activity

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the company’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 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. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock worth $30,026,712 over the last 90 days. 1.44% of the stock is owned by company insiders.

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.