Targa Resources, Inc. $TRGP Shares Bought by Greenland Capital Management LP

Greenland Capital Management LP raised its position in Targa Resources, Inc. (NYSE:TRGP) by 80.9% in the 2nd quarter, Holdings Channel reports. The fund owned 6,531 shares of the pipeline company’s stock after acquiring an additional 2,921 shares during the period. Greenland Capital Management LP’s holdings in Targa Resources were worth $1,137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Disciplina Capital Management LLC acquired a new position in shares of Targa Resources during the first quarter worth about $46,000. Hilltop National Bank purchased a new stake in Targa Resources in the 2nd quarter valued at approximately $63,000. Private Trust Co. NA increased its position in Targa Resources by 57.1% during the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 173 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Targa Resources by 61.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock worth $84,000 after buying an additional 183 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new position in shares of Targa Resources during the 2nd quarter worth approximately $98,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TRGP shares. Wall Street Zen downgraded Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Cfra Research raised Targa Resources to a “hold” rating in a report on Friday, August 8th. Scotiabank lowered their price target on shares of Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Royal Bank Of Canada increased their price target on shares of Targa Resources from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $213.00 price objective on shares of Targa Resources in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.21.

Targa Resources Stock Up 0.3%

Targa Resources stock opened at $170.17 on Thursday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51. The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The stock’s fifty day moving average is $162.22 and its two-hundred day moving average is $164.61. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. Analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were given a $1.00 dividend. The ex-dividend date was Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. Targa Resources’s dividend payout ratio is currently 53.19%.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the transaction, the insider directly owned 22,139 shares in the company, valued at $3,812,557.19. The trade was a 47.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.34% of the stock is currently owned by company insiders.

Targa Resources 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.