Strategic Investment Solutions Inc. IL Takes $29,000 Position in Targa Resources Corp. (NYSE:TRGP)

Strategic Investment Solutions Inc. IL purchased a new position in Targa Resources Corp. (NYSE:TRGP) during the second quarter, HoldingsChannel reports. The fund purchased 216 shares of the pipeline company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently bought and sold shares of TRGP. UMB Bank n.a. raised its position in Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Targa Resources during the 2nd quarter worth approximately $44,000. Register Financial Advisors LLC purchased a new stake in Targa Resources in the 1st quarter valued at approximately $45,000. Rogco LP purchased a new position in Targa Resources during the first quarter worth $56,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Targa Resources in the second quarter worth $69,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the 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 completion of the sale, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at $6,898,969.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at approximately $4,027,784.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the completion of the sale, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. The disclosure for this sale can be found here. Insiders have sold a total of 175,534 shares of company stock valued at $26,815,021 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 1.5 %

Shares of TRGP opened at $155.50 on Friday. Targa Resources Corp. has a twelve month low of $77.97 and a twelve month high of $157.68. The firm has a market capitalization of $34.07 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 1.16 and a beta of 2.26. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The stock’s fifty day simple moving average is $144.10 and its 200 day simple moving average is $128.23.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, equities research analysts forecast that Targa Resources Corp. will post 5.88 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.75 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 1.93%. Targa Resources’s payout ratio is 61.73%.

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.