Targa Resources Corp. (NYSE:TRGP) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lessened its position in Targa Resources Corp. (NYSE:TRGPGet Rating) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,949 shares of the pipeline company’s stock after selling 1,141 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Targa Resources were worth $1,608,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TRGP. Wellington Management Group LLP increased its holdings in shares of Targa Resources by 424.5% in the 1st quarter. Wellington Management Group LLP now owns 3,777,797 shares of the pipeline company’s stock worth $285,110,000 after acquiring an additional 3,057,486 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Targa Resources by 1,359.9% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,942,918 shares of the pipeline company’s stock valued at $115,934,000 after buying an additional 1,809,831 shares during the period. State Street Corp increased its stake in Targa Resources by 14.4% during the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company’s stock valued at $591,455,000 after buying an additional 986,283 shares during the period. Bank of America Corp DE increased its stake in Targa Resources by 126.3% during the 1st quarter. Bank of America Corp DE now owns 1,518,911 shares of the pipeline company’s stock valued at $114,633,000 after buying an additional 847,667 shares during the period. Finally, CI Investments Inc. increased its stake in Targa Resources by 4,238.9% during the 1st quarter. CI Investments Inc. now owns 799,615 shares of the pipeline company’s stock valued at $60,347,000 after buying an additional 781,186 shares during the period. Institutional investors and hedge funds own 87.45% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $73.39 on Thursday. The firm’s 50 day simple moving average is $67.36 and its 200-day simple moving average is $67.18. The company has a market cap of $16.61 billion, a P/E ratio of 69.24 and a beta of 2.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.74 and a quick ratio of 0.60. Targa Resources Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $81.50.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, October 28th. Targa Resources’s payout ratio is presently 132.08%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several research analyst reports. Mizuho raised their target price on shares of Targa Resources from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Morgan Stanley lifted their price objective on shares of Targa Resources from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 19th. StockNews.com began coverage on shares of Targa Resources in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet raised shares of Targa Resources from a “c” rating to a “b-” rating in a research note on Friday, October 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Targa Resources in a research note on Thursday, September 8th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $84.91.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 2,086 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $70.87, for a total transaction of $147,834.82. Following the transaction, the chief accounting officer now directly owns 57,839 shares of the company’s stock, valued at $4,099,049.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Julie H. Boushka sold 2,086 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $70.87, for a total transaction of $147,834.82. Following the transaction, the chief accounting officer now directly owns 57,839 shares of the company’s stock, valued at $4,099,049.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joe Bob Perkins sold 62,326 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $67.84, for a total transaction of $4,228,195.84. Following the transaction, the director now directly owns 88,692 shares in the company, valued at $6,016,865.28. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Targa Resources Company Profile

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Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages 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.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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