Targa Resources Corp. (NYSE:TRGP) Position Increased by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,300 shares of the pipeline company’s stock after purchasing an additional 108 shares during the quarter. Janus Henderson Group PLC’s holdings in Targa Resources were worth $3,744,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Caxton Associates LP purchased a new stake in shares of Targa Resources in the 2nd quarter valued at approximately $2,323,000. Braun Stacey Associates Inc. purchased a new stake in shares of Targa Resources in the 3rd quarter valued at approximately $11,042,000. Metis Global Partners LLC lifted its position in shares of Targa Resources by 12.7% in the 3rd quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company’s stock valued at $3,784,000 after acquiring an additional 2,890 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of Targa Resources by 73.3% in the 3rd quarter. Prospera Financial Services Inc now owns 11,984 shares of the pipeline company’s stock valued at $1,774,000 after acquiring an additional 5,067 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Targa Resources by 47.5% in the 3rd quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company’s stock valued at $4,277,000 after acquiring an additional 9,307 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TRGP. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Barclays increased their target price on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $176.50.

Insider Activity at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,260 shares of company stock worth $29,661,212. 1.44% of the stock is owned by insiders.

Targa Resources Stock Down 0.9 %

Targa Resources stock opened at $185.34 on Wednesday. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $209.87. The firm’s fifty day simple moving average is $179.56 and its 200-day simple moving average is $150.78. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $40.42 billion, a P/E ratio of 33.52, a P/E/G ratio of 0.77 and a beta of 2.28.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business posted $0.97 EPS. Sell-side analysts forecast that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.62%. Targa Resources’s payout ratio is presently 54.25%.

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.