Eagle Bay Advisors LLC decreased its stake in Targa Resources Corp. (NYSE:TRGP – Free Report) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA raised its position in shares of Targa Resources by 17.2% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,290 shares of the pipeline company’s stock valued at $587,000 after acquiring an additional 484 shares during the period. Capital Investment Advisors LLC raised its holdings in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after purchasing an additional 5,431 shares during the period. Czech National Bank grew its holdings in shares of Targa Resources by 5.9% in the 4th quarter. Czech National Bank now owns 47,281 shares of the pipeline company’s stock valued at $8,440,000 after buying an additional 2,653 shares during the period. Graypoint LLC bought a new stake in shares of Targa Resources in the 4th quarter valued at $238,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Targa Resources by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,529 shares of the pipeline company’s stock worth $2,415,000 after buying an additional 158 shares during the period. Institutional investors own 92.13% of the company’s stock.
Wall Street Analysts Forecast Growth
TRGP has been the subject of several recent analyst reports. Scotiabank initiated coverage on Targa Resources in a report on Friday. They issued a “sector outperform” rating and a $218.00 price target for the company. UBS Group raised their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley upped their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Barclays raised their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday. Finally, US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average target price of $189.21.
Targa Resources Trading Up 2.0 %
Shares of Targa Resources stock opened at $197.26 on Tuesday. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $209.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The business’s 50 day moving average is $189.74 and its 200-day moving average is $161.75. The stock has a market cap of $43.02 billion, a P/E ratio of 35.67, a P/E/G ratio of 0.73 and a beta of 2.30.
Targa Resources (NYSE:TRGP – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the company posted $0.97 earnings per share. Equities research analysts predict that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.
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.
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