TD Waterhouse Canada Inc. Sells 2,886 Shares of Targa Resources, Inc. $TRGP

TD Waterhouse Canada Inc. decreased its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,458 shares of the pipeline company’s stock after selling 2,886 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Targa Resources were worth $4,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRGP. Hardy Reed LLC lifted its stake in shares of Targa Resources by 1.0% in the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock valued at $1,083,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Targa Resources by 4.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock worth $307,000 after purchasing an additional 45 shares during the period. Premier Path Wealth Partners LLC increased its position in shares of Targa Resources by 2.3% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,003 shares of the pipeline company’s stock worth $537,000 after purchasing an additional 45 shares during the last quarter. River Wealth Advisors LLC increased its position in shares of Targa Resources by 0.3% during the 2nd quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock worth $5,217,000 after purchasing an additional 50 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in shares of Targa Resources by 2.7% during the 1st quarter. Bridgewater Advisors Inc. now owns 2,210 shares of the pipeline company’s stock worth $520,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TRGP shares. Citigroup upped their target price on shares of Targa Resources from $303.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Erste Group Bank initiated coverage on shares of Targa Resources in a research note on Thursday, June 25th. They set a “buy” rating for the company. Stifel Nicolaus set a $335.00 target price on shares of Targa Resources in a research note on Friday, October 9th. Royal Bank Of Canada lifted their price target on shares of Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $322.00 price target on shares of Targa Resources in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $317.75.

Insider Buying and Selling

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of Targa Resources stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the transaction, the director directly owned 62,292 shares of the company’s stock, valued at $18,079,007.16. The trade was a 4.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul W. Chung sold 1,816 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the sale, the director owned 44,000 shares in the company, valued at $13,028,840. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,216 shares of company stock valued at $2,127,634. Corporate insiders own 1.37% of the company’s stock.

Targa Resources Stock Down 0.7%

NYSE:TRGP opened at $292.89 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The stock’s fifty day moving average is $286.78 and its two-hundred day moving average is $270.44. Targa Resources, Inc. has a 52 week low of $149.01 and a 52 week high of $307.94. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion. Research analysts anticipate that Targa Resources, Inc. will post 11.38 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources’s dividend payout ratio is presently 47.80%.

About Targa Resources

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company’s services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.