Shell Asset Management Co. Acquires 1,223 Shares of Targa Resources, Inc. $TRGP

Shell Asset Management Co. grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 18.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,696 shares of the pipeline company’s stock after purchasing an additional 1,223 shares during the period. Shell Asset Management Co.’s holdings in Targa Resources were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Disciplina Capital Management LLC bought a new stake in shares of Targa Resources in the 1st quarter valued at approximately $46,000. Olde Wealth Management LLC bought a new stake in shares of Targa Resources in the 1st quarter valued at approximately $52,000. Wolff Wiese Magana LLC grew its stake in shares of Targa Resources by 376.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock valued at $60,000 after purchasing an additional 237 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Targa Resources in the 2nd quarter valued at approximately $63,000. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Down 4.2%

NYSE:TRGP opened at $161.42 on Friday. The stock’s fifty day moving average price is $165.26 and its two-hundred day moving average price is $168.35. Targa Resources, Inc. has a 52-week low of $150.00 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The company has a market cap of $34.74 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 1.00 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.92. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. On average, analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TRGP shares. Cfra Research upgraded Targa Resources to a “hold” rating in a research note on Friday, August 8th. BMO Capital Markets assumed coverage on Targa Resources in a report on Friday, September 19th. They issued an “outperform” rating and a $185.00 target price on the stock. Royal Bank Of Canada boosted their target price on Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.67.

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.