Vanguard Personalized Indexing Management LLC Reduces Stock Position in Targa Resources, Inc. $TRGP

Vanguard Personalized Indexing Management LLC reduced its holdings in Targa Resources, Inc. (NYSE:TRGP) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,719 shares of the pipeline company’s stock after selling 410 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Targa Resources were worth $5,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. Cornerstone Planning Group LLC grew its stake in shares of Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock worth $26,000 after buying an additional 110 shares in the last quarter. Disciplina Capital Management LLC bought a new stake in shares of Targa Resources in the 1st quarter worth about $46,000. Olde Wealth Management LLC bought a new stake in shares of Targa Resources in the 1st quarter worth about $52,000. Wolff Wiese Magana LLC lifted its holdings in shares of Targa Resources by 376.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock worth $60,000 after acquiring an additional 237 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Targa Resources in the 2nd quarter worth about $63,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Trading Down 0.5%

Shares of TRGP opened at $151.65 on Tuesday. Targa Resources, Inc. has a 1-year low of $150.00 and a 1-year high of $218.51. The company has a 50-day moving average of $164.78 and a 200 day moving average of $167.21. The firm has a market capitalization of $32.63 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.91 and a beta of 1.12. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.82 billion. On average, research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Analyst Ratings Changes

TRGP has been the subject of several analyst reports. BMO Capital Markets initiated coverage on shares of Targa Resources in a report on Friday, September 19th. They issued an “outperform” rating and a $185.00 target price for the company. Wall Street Zen upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Mizuho lowered their target price on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a report on Friday, August 29th. TD Securities initiated coverage on shares of Targa Resources in a report on Monday, July 7th. They issued a “hold” rating for the company. Finally, TD Cowen initiated coverage on shares of Targa Resources in a report on Monday, July 7th. They issued a “hold” rating and a $192.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.67.

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.