Private Advisory Group LLC Takes $1.68 Million Position in Targa Resources Corp. (NYSE:TRGP)

Private Advisory Group LLC bought a new stake in Targa Resources Corp. (NYSE:TRGP) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,321 shares of the pipeline company’s stock, valued at approximately $1,676,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Targa Resources in the 2nd quarter valued at about $29,000. UMB Bank n.a. grew its position in shares of Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Targa Resources during the 2nd quarter worth approximately $44,000. Register Financial Advisors LLC acquired a new position in shares of Targa Resources during the 1st quarter worth approximately $45,000. Finally, Quarry LP acquired a new position in shares of Targa Resources during the 4th quarter worth approximately $50,000. 92.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,534 shares of company stock worth $26,815,021. 1.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRGP shares. Wells Fargo & Company increased their target price on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada increased their price target 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. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Barclays raised their target price on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, July 3rd. Finally, Scotiabank raised their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $141.77.

Targa Resources Trading Down 0.5 %

NYSE:TRGP opened at $162.52 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $35.60 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.29 and a beta of 2.25. The firm has a fifty day simple moving average of $146.18 and a two-hundred day simple moving average of $129.76. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $163.71.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period last year, the company posted $1.44 earnings per share. Analysts expect that Targa Resources Corp. will post 5.9 EPS for the current fiscal year.

Targa Resources Company 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.