National Pension Service Has $44.16 Million Stake in Targa Resources Corp. (NYSE:TRGP)

National Pension Service raised its position in shares of Targa Resources Corp. (NYSE:TRGP) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,382 shares of the pipeline company’s stock after purchasing an additional 8,321 shares during the quarter. National Pension Service’s holdings in Targa Resources were worth $44,164,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Buckley Wealth Management LLC grew its position in Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Targa Resources by 9.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 83 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Targa Resources by 1.0% during the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after acquiring an additional 89 shares in the last quarter. Catalina Capital Group LLC boosted its position in Targa Resources by 3.4% during the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock valued at $392,000 after purchasing an additional 99 shares during the last quarter. Finally, &PARTNERS grew its stake in Targa Resources by 1.1% in the second quarter. &PARTNERS now owns 10,107 shares of the pipeline company’s stock valued at $1,302,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity

In related news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Joe Bob Perkins sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the transaction, the director now owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,764 shares of company stock worth $24,829,770. Company insiders own 1.44% of the company’s stock.

Targa Resources Trading Up 4.9 %

Shares of TRGP stock opened at $186.04 on Thursday. The firm has a market capitalization of $40.76 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 1.31 and a beta of 2.24. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $189.62. The firm’s fifty day simple moving average is $157.18 and its 200 day simple moving average is $137.19. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.96 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed 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. This represents a $3.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, October 31st. Targa Resources’s payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRGP shares. Morgan Stanley lifted their price target on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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 report on Wednesday, July 17th. Argus upgraded shares of 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 company an “overweight” rating in a report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $157.21.

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.