Empirical Finance LLC Has $484,000 Holdings in Targa Resources Corp. (NYSE:TRGP)

Empirical Finance LLC trimmed its stake in Targa Resources Corp. (NYSE:TRGP) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,755 shares of the pipeline company’s stock after selling 312 shares during the period. Empirical Finance LLC’s holdings in Targa Resources were worth $484,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Spire Wealth Management raised its position in Targa Resources by 2,400.0% in the 1st quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 264 shares during the last quarter. Whittier Trust Co. acquired a new position in Targa Resources in the second quarter worth $44,000. Register Financial Advisors LLC bought a new stake in shares of Targa Resources during the first quarter worth $45,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Targa Resources in the fourth quarter valued at $42,000. 92.13% of the stock is currently owned by institutional investors.

Insider Activity

In other Targa Resources news, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the sale, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul W. Chung sold 916 shares of Targa Resources stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total transaction of $124,896.60. Following the completion of the transaction, the director now directly owns 238,591 shares of the company’s stock, valued at approximately $32,531,882.85. The disclosure for this sale can be found here. Insiders sold 43,034 shares of company stock worth $5,623,890 in the last quarter. Corporate insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TRGP shares. Wells Fargo & Company increased their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barclays increased their price target on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Morgan Stanley increased their price objective on Targa Resources from $134.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group boosted their target price on Targa Resources from $132.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $140.54.

Targa Resources Trading Up 0.4 %

NYSE TRGP opened at $146.90 on Friday. Targa Resources Corp. has a 52 week low of $77.97 and a 52 week high of $147.08. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The stock’s 50 day moving average price is $135.87 and its two-hundred day moving average price is $119.84. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.15 and a beta of 2.27.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter in the previous year, the firm posted $1.44 earnings per share. As a group, analysts anticipate that Targa Resources Corp. will post 5.88 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Wednesday, July 31st. Targa Resources’s payout ratio is 61.73%.

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.