SG Americas Securities LLC Sells 38,273 Shares of Targa Resources Corp. (NYSE:TRGP)

SG Americas Securities LLC decreased its position in Targa Resources Corp. (NYSE:TRGP) by 85.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,391 shares of the pipeline company’s stock after selling 38,273 shares during the quarter. SG Americas Securities LLC’s holdings in Targa Resources were worth $946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TRGP. Massmutual Trust Co. FSB ADV grew its position in Targa Resources by 9.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 83 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Targa Resources by 1.0% in the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock valued at $1,148,000 after acquiring an additional 89 shares in the last quarter. Catalina Capital Group LLC increased its position in shares of Targa Resources by 3.4% during the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 99 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in Targa Resources by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 17,695 shares of the pipeline company’s stock worth $1,981,000 after acquiring an additional 100 shares during the period. Finally, &PARTNERS boosted its position in Targa Resources by 1.1% in the second quarter. &PARTNERS now owns 10,107 shares of the pipeline company’s stock worth $1,302,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction dated 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 owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 12,641 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the completion of the transaction, the chief accounting officer now owns 38,403 shares in the company, valued at approximately $5,165,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,534 shares of company stock valued at $26,815,021 in the last three months. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TRGP shares. Royal Bank of Canada lifted their target price on Targa Resources from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group increased their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company lifted their price target on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barclays increased their price objective on Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $141.77.

Targa Resources Stock Performance

Shares of TRGP opened at $165.76 on Friday. 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 market capitalization of $36.75 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 1.29 and a beta of 2.25. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $166.07. The stock’s 50-day simple moving average is $146.71 and its 200 day simple moving average is $129.99.

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

Targa Resources 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.