Eagle Bay Advisors LLC Has $64,000 Position in Targa Resources Corp. (NYSE:TRGP)

Eagle Bay Advisors LLC cut its position in Targa Resources Corp. (NYSE:TRGP) by 16.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361 shares of the pipeline company’s stock after selling 72 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Targa Resources were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in shares of Targa Resources by 5.3% during the second quarter. Commonwealth Equity Services LLC now owns 9,714 shares of the pipeline company’s stock worth $1,251,000 after purchasing an additional 486 shares during the period. Acadian Asset Management LLC bought a new position in Targa Resources during the 2nd quarter worth $1,380,000. Dai ichi Life Insurance Company Ltd raised its holdings in Targa Resources by 4.5% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 15,610 shares of the pipeline company’s stock valued at $2,010,000 after acquiring an additional 672 shares in the last quarter. Parallel Advisors LLC raised its holdings in Targa Resources by 12.0% in the 2nd quarter. Parallel Advisors LLC now owns 3,988 shares of the pipeline company’s stock valued at $514,000 after acquiring an additional 428 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Targa Resources by 1.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,055 shares of the pipeline company’s stock worth $1,810,000 after purchasing an additional 262 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In related news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Targa Resources Trading Up 2.0 %

Shares of NYSE TRGP opened at $197.26 on Tuesday. The firm has a 50 day moving average price of $189.74 and a two-hundred day moving average price of $161.75. The stock has a market cap of $43.02 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, equities analysts forecast that Targa Resources Corp. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America started coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday. Finally, Scotiabank initiated coverage on Targa Resources in a report on Friday. They set a “sector outperform” rating and a $218.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $189.21.

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.