Two Sigma Securities LLC Buys 1,956 Shares of Targa Resources, Inc. $TRGP

Two Sigma Securities LLC grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 172.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,090 shares of the pipeline company’s stock after purchasing an additional 1,956 shares during the period. Two Sigma Securities LLC’s holdings in Targa Resources were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hardy Reed LLC increased its position in Targa Resources by 1.0% during the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock worth $1,083,000 after purchasing an additional 41 shares in the last quarter. Versant Capital Management Inc boosted its position in Targa Resources by 4.1% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock valued at $307,000 after buying an additional 45 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Targa Resources by 10.5% during the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock worth $97,000 after buying an additional 50 shares during the last quarter. River Wealth Advisors LLC grew its stake in shares of Targa Resources by 0.3% during the second quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock worth $5,217,000 after buying an additional 50 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Targa Resources by 0.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock worth $1,376,000 after buying an additional 51 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on TRGP shares. Erste Group Bank started coverage on Targa Resources in a research note on Thursday, June 25th. They issued a “buy” rating for the company. Wells Fargo & Company boosted their price objective on Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wolfe Research set a $335.00 target price on Targa Resources in a report on Friday, August 7th. Jefferies Financial Group increased their target price on Targa Resources from $324.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Royal Bank Of Canada lifted their price target on Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Targa Resources has an average rating of “Buy” and an average target price of $298.71.

Targa Resources Trading Up 0.7%

Shares of NYSE TRGP opened at $295.82 on Wednesday. The firm has a 50 day moving average price of $276.21 and a two-hundred day moving average price of $258.45. The stock has a market cap of $63.43 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.40 and a beta of 0.72. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $307.94. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. As a group, equities analysts forecast that Targa Resources, Inc. will post 11.23 EPS for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources’s payout ratio is presently 47.80%.

Insider Activity

In other news, Director Waters S. Iv Davis sold 2,400 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the sale, the director owned 1,529 shares of the company’s stock, valued at approximately $458,195.43. This represents a 61.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the transaction, the director owned 62,292 shares of the company’s stock, valued at $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.37% of the stock is currently owned by insiders.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.