Russell Investments Group Ltd. Has $66.21 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Russell Investments Group Ltd. decreased its stake in Targa Resources Corp. (NYSE:TRGP) by 17.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 591,271 shares of the pipeline company’s stock after selling 121,207 shares during the quarter. Russell Investments Group Ltd. owned 0.27% of Targa Resources worth $66,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC acquired a new stake in shares of Targa Resources in the fourth quarter worth $27,000. Spire Wealth Management boosted its position in Targa Resources by 2,400.0% during the 1st quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 264 shares during the period. EdgeRock Capital LLC purchased a new position in Targa Resources during the 4th quarter valued at about $42,000. Delos Wealth Advisors LLC acquired a new position in shares of Targa Resources in the 4th quarter valued at about $43,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Targa Resources in the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

TRGP traded up $0.48 during trading on Tuesday, hitting $134.82. The stock had a trading volume of 797,039 shares, compared to its average volume of 1,606,611. The firm has a market cap of $29.89 billion, a PE ratio of 27.64, a P/E/G ratio of 0.79 and a beta of 2.27. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 12 month low of $77.06 and a 12 month high of $136.29. The company has a 50 day simple moving average of $122.04 and a 200-day simple moving average of $107.73.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.28 billion. Analysts expect that Targa Resources Corp. will post 5.27 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.75 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.23%. Targa Resources’s dividend payout ratio is 61.73%.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the transaction, the chief accounting officer now owns 57,228 shares in the company, valued at approximately $6,466,764. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Charles R. Crisp sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $112.54, for a total value of $787,780.00. Following the completion of the transaction, the director now directly owns 95,471 shares of the company’s stock, valued at $10,744,306.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares in the company, valued at approximately $6,466,764. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,691 shares of company stock worth $6,197,632. Insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TRGP shares. Mizuho boosted their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Scotiabank upped their price target on shares of Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 15th. Barclays increased their price objective on Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada raised their price target on Targa Resources from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and a consensus target price of $131.08.

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.