Targa Resources Corp. (NYSE:TRGP) Position Lessened by Oak Thistle LLC

Oak Thistle LLC reduced its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 23.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,258 shares of the pipeline company’s stock after selling 3,655 shares during the period. Targa Resources makes up about 0.6% of Oak Thistle LLC’s holdings, making the stock its 18th largest holding. Oak Thistle LLC’s holdings in Targa Resources were worth $2,188,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Targa Resources during the second quarter valued at approximately $29,000. DT Investment Partners LLC acquired a new stake in Targa Resources in the 3rd quarter valued at approximately $29,000. Prospera Private Wealth LLC bought a new stake in Targa Resources during the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton boosted its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares during the period. Finally, Huntington National Bank grew its stake in shares of Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 89 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRGP. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Bank of America initiated coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Scotiabank started coverage on Targa Resources in a report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price on the stock. Barclays increased their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $189.21.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 3,260 shares of the firm’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 sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Price Performance

NYSE TRGP opened at $200.89 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The company has a market cap of $43.81 billion, a PE ratio of 36.33, a PEG ratio of 0.73 and a beta of 2.30. The stock’s 50-day moving average price is $190.21 and its two-hundred day moving average price is $162.26.

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. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.97 earnings per share. On average, analysts predict that Targa Resources Corp. will post 6.26 EPS for the current year.

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.