92,387 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Toronto Dominion Bank

Toronto Dominion Bank acquired a new position in Targa Resources Corp. (NYSE:TRGPGet Rating) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 92,387 shares of the pipeline company’s stock, valued at approximately $5,511,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Herold Advisors Inc. purchased a new stake in shares of Targa Resources in the first quarter worth $29,000. Prospera Financial Services Inc bought a new position in Targa Resources in the first quarter valued at $36,000. MCF Advisors LLC bought a new position in Targa Resources in the first quarter valued at $39,000. SeaCrest Wealth Management LLC bought a new position in Targa Resources in the second quarter valued at $34,000. Finally, CENTRAL TRUST Co increased its stake in Targa Resources by 193.5% in the first quarter. CENTRAL TRUST Co now owns 728 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.

Targa Resources Stock Down 0.9 %

Shares of NYSE:TRGP opened at $73.39 on Thursday. Targa Resources Corp. has a 1 year low of $47.57 and a 1 year high of $81.50. The company has a market cap of $16.61 billion, a PE 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. The stock’s 50-day moving average is $67.36 and its 200 day moving average is $67.18.

Targa Resources Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRGP shares. Morgan Stanley increased their target price on Targa Resources from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 19th. TheStreet raised Targa Resources from a “c” rating to a “b-” rating in a research note on Friday, October 28th. Mizuho increased their target price on Targa Resources from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 8th. StockNews.com initiated coverage on Targa Resources in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $84.91.

Insider Activity at Targa Resources

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

About Targa Resources

(Get Rating)

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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