Targa Resources, Inc. $TRGP Shares Purchased by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC raised its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,570 shares of the pipeline company’s stock after purchasing an additional 3,138 shares during the period. Lebenthal Global Advisors LLC’s holdings in Targa Resources were worth $2,274,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System increased its position in Targa Resources by 5.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 205,934 shares of the pipeline company’s stock valued at $35,849,000 after acquiring an additional 10,889 shares during the period. Nordea Investment Management AB boosted its position in Targa Resources by 260.2% during the 2nd quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after acquiring an additional 93,119 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Targa Resources by 137.9% in the third quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock worth $11,164,000 after purchasing an additional 38,626 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Targa Resources by 2.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 682,300 shares of the pipeline company’s stock valued at $114,313,000 after purchasing an additional 16,000 shares during the period. Finally, Aberdeen Group plc raised its stake in shares of Targa Resources by 17.6% during the second quarter. Aberdeen Group plc now owns 175,571 shares of the pipeline company’s stock valued at $30,563,000 after purchasing an additional 26,318 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Performance

NYSE:TRGP opened at $201.10 on Friday. The company has a 50-day moving average of $182.65 and a 200-day moving average of $170.23. The firm has a market cap of $43.17 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 0.87 and a beta of 0.87. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $211.87.

Targa Resources (NYSE:TRGP) last released its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. Analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, January 30th. Targa Resources’s dividend payout ratio is 53.19%.

Insider Buying and Selling at Targa Resources

In other news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares of the company’s stock, valued at $3,812,557.19. This trade represents a 47.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRGP shares. BMO Capital Markets upped their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Stifel Nicolaus set a $213.00 price objective on shares of Targa Resources in a report on Thursday, November 6th. Royal Bank Of Canada raised their price objective on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Scotiabank reissued an “outperform” rating and set a $224.00 target price on shares of Targa Resources in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $213.50.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.