Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,529 shares of the pipeline company’s stock after purchasing an additional 118 shares during the period. Ballentine Partners LLC’s holdings in Targa Resources were worth $522,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TRGP. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources during the 2nd quarter valued at approximately $29,000. DT Investment Partners LLC bought a new position in shares of Targa Resources during the third quarter worth about $29,000. UMB Bank n.a. increased 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 worth $30,000 after acquiring an additional 222 shares during the period. Whittier Trust Co. bought a new stake in Targa Resources in the 2nd quarter valued at about $44,000. Finally, Rogco LP acquired a new position in Targa Resources during the 1st quarter valued at about $56,000. 92.13% of the stock is currently owned by institutional investors.

Insider Activity at Targa Resources

In other news, insider Gerald R. Shrader sold 3,000 shares of the 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 completion of the sale, the insider now owns 29,603 shares in the company, valued at $4,027,784.18. This 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 at this link. In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now owns 29,603 shares in the company, valued at approximately $4,027,784.18. This represents a 0.00 % 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 1,213 shares of the company’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 completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 175,534 shares of company stock worth $26,815,021. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Performance

TRGP opened at $165.96 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The firm has a market cap of $36.80 billion, a PE ratio of 34.15, a P/E/G ratio of 1.28 and a beta of 2.25. The business has a fifty day simple moving average of $152.97 and a 200-day simple moving average of $134.04. Targa Resources Corp. has a fifty-two week low of $81.03 and a fifty-two week high of $169.92.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same quarter last year, the company posted $1.44 EPS. As a group, equities analysts predict that Targa Resources Corp. will post 5.92 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued 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 dividend yield of 1.81%. Targa Resources’s dividend payout ratio is currently 61.73%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TRGP shares. Scotiabank raised their price target on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 17th. Barclays boosted their price target on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target on Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $152.79.

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.