3,339 Targa Resources, Inc. $TRGP Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd grew its position in Targa Resources, Inc. (NYSE:TRGP) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,668 shares of the pipeline company’s stock after purchasing an additional 3,339 shares during the quarter. Ninety One UK Ltd’s holdings in Targa Resources were worth $42,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC grew its position in shares of Targa Resources by 381.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Targa Resources during the second quarter worth approximately $32,000. Compass Financial Management LLC bought a new position in shares of Targa Resources during the second quarter worth approximately $33,000. CoreCap Advisors LLC raised its position in shares of Targa Resources by 245.9% in the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Targa Resources in the second quarter valued at approximately $35,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Price Performance

TRGP stock traded down $8.22 during mid-day trading on Thursday, hitting $282.69. The stock had a trading volume of 540,162 shares, compared to its average volume of 1,293,491. The firm has a fifty day simple moving average of $285.19 and a 200 day simple moving average of $269.59. The firm has a market capitalization of $60.62 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.38 and a beta of 0.80. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $307.94.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. As a group, research analysts forecast that Targa Resources, Inc. will post 11.30 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, October 30th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 30th. Targa Resources’s payout ratio is currently 47.80%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Charles Crisp sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the sale, the director directly owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Davis sold 2,400 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the sale, the director owned 1,529 shares of the company’s stock, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,216 shares of company stock worth $2,127,634 over the last three months. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRGP. Jefferies Financial Group reissued a “buy” rating and set a $326.00 price target on shares of Targa Resources in a research report on Thursday. Royal Bank Of Canada raised their price objective on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Erste Group Bank assumed coverage on Targa Resources in a report on Thursday, June 25th. They issued a “buy” rating for the company. Citigroup upped their target price on Targa Resources from $303.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings raised Targa Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $317.75.

Targa Resources Company Profile

Targa Resources Corp. (NYSE: TRGP) is a Houston-based midstream energy company that owns, operates and develops infrastructure for gathering, processing, transporting, storing and exporting natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products. Its operations connect producers with domestic and international markets across key U.S. energy-producing regions.

The company’s assets include natural gas gathering and processing systems, NGL pipelines, fractionation facilities, storage assets and export terminals.