Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,303,522 shares of the pipeline company’s stock after buying an additional 271,444 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Targa Resources were worth $296,647,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Targa Resources by 0.8% during the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after buying an additional 201,817 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Targa Resources by 231.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock worth $119,712,000 after purchasing an additional 962,073 shares during the period. New Mexico Educational Retirement Board grew its position in Targa Resources by 287.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 45,700 shares of the pipeline company’s stock worth $5,118,000 after purchasing an additional 33,900 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Targa Resources by 160.3% during the 1st quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock valued at $32,486,000 after purchasing an additional 178,655 shares during the period. Finally, Sciencast Management LP purchased a new stake in shares of Targa Resources in the first quarter valued at $1,910,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 0.9 %

Shares of Targa Resources stock opened at $152.00 on Wednesday. Targa Resources Corp. has a 12-month low of $77.97 and a 12-month high of $152.42. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The stock has a 50 day moving average price of $139.88 and a two-hundred day moving average price of $124.54. The stock has a market capitalization of $33.70 billion, a P/E ratio of 31.28, a PEG ratio of 1.16 and a beta of 2.26.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $3.56 billion during 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 earned $1.44 EPS. Equities analysts expect that Targa Resources Corp. will post 5.89 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. Targa Resources’s dividend payout ratio is presently 61.73%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Scotiabank upped their price target on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Targa Resources from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Company increased their target price on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Barclays boosted their price target on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $140.54.

Insider Buying and Selling

In other Targa Resources news, insider Robert Muraro sold 9,900 shares of Targa Resources stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.31, for a total value of $1,290,069.00. Following the transaction, the insider now directly owns 186,951 shares of the company’s stock, valued at approximately $24,361,584.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Paul W. Chung sold 916 shares of Targa Resources stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $136.35, for a total transaction of $124,896.60. Following the sale, the director now directly owns 238,591 shares of the company’s stock, valued at $32,531,882.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Muraro sold 9,900 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $130.31, for a total value of $1,290,069.00. Following the completion of the transaction, the insider now directly owns 186,951 shares of the company’s stock, valued at approximately $24,361,584.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,534 shares of company stock valued at $4,788,590. 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.