Cetera Investment Advisers Has $4.19 Million Stake in Targa Resources Corp. (NYSE:TRGP)

Cetera Investment Advisers grew its position in Targa Resources Corp. (NYSE:TRGP) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,519 shares of the pipeline company’s stock after purchasing an additional 1,467 shares during the quarter. Cetera Investment Advisers’ holdings in Targa Resources were worth $4,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRGP. Brevan Howard Capital Management LP grew its position in shares of Targa Resources by 483.5% in the fourth quarter. Brevan Howard Capital Management LP now owns 17,959 shares of the pipeline company’s stock valued at $1,560,000 after purchasing an additional 14,881 shares during the last quarter. Blackstone Inc. grew its position in shares of Targa Resources by 60.4% in the fourth quarter. Blackstone Inc. now owns 9,442,728 shares of the pipeline company’s stock valued at $820,290,000 after purchasing an additional 3,554,989 shares during the last quarter. Oxford Financial Group LTD. LLC acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $652,000. Price T Rowe Associates Inc. MD grew its position in Targa Resources by 231.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock worth $119,712,000 after buying an additional 962,073 shares in the last quarter. Finally, Quarry LP acquired a new stake in Targa Resources during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TRGP shares. JPMorgan Chase & Co. increased their price target on Targa Resources from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company increased their price target on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Argus raised Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank raised their target price on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group raised their target price on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $141.77.

Targa Resources Stock Up 3.3 %

Shares of TRGP opened at $163.48 on Thursday. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $163.71. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.25 and a beta of 2.25. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The stock has a fifty day moving average of $145.61 and a 200-day moving average of $129.52.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $1.44 EPS. As a group, sell-side analysts anticipate that Targa Resources Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the completion of the transaction, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the transaction, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,534 shares of company stock worth $26,815,021. Insiders own 1.39% of the company’s stock.

About Targa Resources

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.