Vanguard Group Inc. Raises Stock Holdings in Targa Resources, Inc. $TRGP

Vanguard Group Inc. boosted its stake in Targa Resources, Inc. (NYSE:TRGP) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,382,289 shares of the pipeline company’s stock after acquiring an additional 422,075 shares during the quarter. Vanguard Group Inc. owned 13.19% of Targa Resources worth $4,755,169,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after buying an additional 5,327 shares during the last quarter. Focus Partners Wealth boosted its stake in Targa Resources by 157.4% during the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after purchasing an additional 2,404 shares during the last quarter. Private Trust Co. NA raised its position in shares of Targa Resources by 57.1% in the second quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after buying an additional 173 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Targa Resources by 39.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,982 shares of the pipeline company’s stock worth $867,000 after acquiring an additional 1,404 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Targa Resources by 13.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 71,038 shares of the pipeline company’s stock valued at $12,434,000 after purchasing an additional 8,294 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank reissued an “outperform” rating and issued a $224.00 price target on shares of Targa Resources in a research note on Friday, January 16th. Stifel Nicolaus set a $213.00 target price on Targa Resources in a research report on Thursday, November 6th. Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Wall Street Zen cut shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, BMO Capital Markets increased their price objective on Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $213.50.

Insider Activity at Targa Resources

In related news, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the transaction, the insider owned 29,561 shares in the company, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.34% of the company’s stock.

Targa Resources Stock Up 0.1%

Shares of NYSE:TRGP opened at $224.07 on Wednesday. The firm has a 50 day simple moving average of $191.86 and a 200-day simple moving average of $174.32. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $226.00. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. The company has a market capitalization of $48.10 billion, a PE ratio of 29.80, a P/E/G ratio of 0.96 and a beta of 0.88.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. 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 53.19%.

Targa Resources 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.