Versor Investments LP Trims Stock Holdings in Targa Resources, Inc. $TRGP

Versor Investments LP decreased its position in Targa Resources, Inc. (NYSE:TRGP) by 70.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,034 shares of the pipeline company’s stock after selling 4,767 shares during the quarter. Versor Investments LP’s holdings in Targa Resources were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRGP. State of Wyoming increased its stake in shares of Targa Resources by 3.2% in the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 64 shares in the last quarter. Savant Capital LLC grew its holdings in Targa Resources by 2.6% in the third quarter. Savant Capital LLC now owns 2,849 shares of the pipeline company’s stock worth $477,000 after purchasing an additional 73 shares during the period. ICONIQ Capital LLC increased its stake in shares of Targa Resources by 5.7% during the second quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 78 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Targa Resources by 10.9% during the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock valued at $140,000 after purchasing an additional 79 shares during the last quarter. Finally, SL Advisors LLC lifted its holdings in shares of Targa Resources by 0.4% during the third quarter. SL Advisors LLC now owns 18,452 shares of the pipeline company’s stock valued at $3,091,000 after purchasing an additional 81 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TRGP. Morgan Stanley restated an “overweight” rating and issued a $266.00 price target on shares of Targa Resources in a research note on Wednesday, January 28th. Royal Bank Of Canada increased their target price on Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group restated a “buy” rating and set a $196.00 price target on shares of Targa Resources in a report on Monday, January 12th. UBS Group reissued a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Finally, Weiss Ratings upgraded shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average price target of $213.50.

Targa Resources Trading Up 2.5%

Targa Resources stock opened at $223.73 on Friday. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $225.35. The business’s fifty day moving average is $190.15 and its 200 day moving average is $173.41. The stock has a market capitalization of $48.02 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.88. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $1.00 dividend. The ex-dividend date was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.8%. Targa Resources’s payout ratio is currently 53.19%.

Insider Buying and Selling at Targa Resources

In other news, insider Gerald R. Shrader sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. The trade was a 8.51% 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. 1.34% of the stock is owned by insiders.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.