Axa S.A. Acquires 416 Shares of Targa Resources Corp. (NYSE:TRGP)

Axa S.A. grew its stake in Targa Resources Corp. (NYSE:TRGP) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,188 shares of the pipeline company’s stock after acquiring an additional 416 shares during the quarter. Axa S.A.’s holdings in Targa Resources were worth $1,441,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRGP. Steward Partners Investment Advisory LLC boosted its holdings in Targa Resources by 48.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,689 shares of the pipeline company’s stock worth $581,000 after purchasing an additional 2,171 shares during the last quarter. TD Asset Management Inc raised its stake in Targa Resources by 11.2% during the 4th quarter. TD Asset Management Inc now owns 82,113 shares of the pipeline company’s stock valued at $7,133,000 after purchasing an additional 8,270 shares during the period. Stifel Financial Corp raised its position in shares of Targa Resources by 22.8% during the fourth quarter. Stifel Financial Corp now owns 151,513 shares of the pipeline company’s stock valued at $13,162,000 after buying an additional 28,177 shares during the last quarter. California State Teachers Retirement System lifted its stake in Targa Resources by 5.5% in the 4th quarter. California State Teachers Retirement System now owns 417,366 shares of the pipeline company’s stock worth $36,257,000 after purchasing an additional 21,872 shares in the last quarter. Finally, NEOS Investment Management LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth about $275,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TRGP. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. UBS Group boosted their target price on shares of Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley increased their price objective on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Barclays increased their target price on shares of Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $141.77.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $148.01 on Tuesday. Targa Resources Corp. has a 52 week low of $77.97 and a 52 week high of $157.68. The business’s 50 day moving average price is $142.90 and its 200 day moving average price is $127.55. 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 firm has a market cap of $32.43 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.16 and a beta of 2.26.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the firm earned $1.44 EPS. On average, sell-side analysts expect that Targa Resources Corp. will post 5.88 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.03%. The ex-dividend date was Wednesday, July 31st. Targa Resources’s dividend payout ratio is currently 61.73%.

Insider Buying and Selling at Targa Resources

In related news, insider Gerald R. Shrader sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the sale, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the completion of the transaction, the insider now directly owns 29,603 shares in the company, valued at approximately $4,027,784.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares in the company, valued at approximately $17,181,399.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,534 shares of company stock worth $26,815,021. Insiders own 1.39% of the company’s stock.

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.