Targa Resources, Inc. $TRGP Stock Holdings Trimmed by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 4.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 182,426 shares of the pipeline company’s stock after selling 8,643 shares during the quarter. Westfield Capital Management Co. LP owned about 0.08% of Targa Resources worth $30,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peoples Financial Services CORP. bought a new position in Targa Resources in the 3rd quarter valued at about $34,000. Root Financial Partners LLC acquired a new stake in shares of Targa Resources in the 3rd quarter worth approximately $39,000. Avion Wealth lifted its stake in shares of Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after acquiring an additional 228 shares during the period. First Horizon Corp bought a new position in shares of Targa Resources in the third quarter valued at approximately $47,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Targa Resources during the second quarter worth approximately $53,000. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRGP has been the subject of a number of research reports. Wall Street Zen lowered Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Scotiabank restated an “outperform” rating on shares of Targa Resources in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Targa Resources in a report on Friday, January 9th. Weiss Ratings upgraded shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Finally, Citigroup raised their price objective on shares of Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.50.

Targa Resources Trading Up 0.5%

NYSE:TRGP opened at $231.20 on Friday. The stock has a fifty day simple moving average of $198.60 and a 200 day simple moving average of $177.35. The firm has a market capitalization of $49.70 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $234.41. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.12 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, January 30th. Targa Resources’s payout ratio is presently 46.57%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, President Jennifer R. Kneale sold 29,509 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total transaction of $6,790,611.08. Following the completion of the sale, the president directly owned 235,260 shares in the company, valued at approximately $54,138,031.20. This trade represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider owned 29,561 shares in the company, valued at $5,356,748.81. This represents a 8.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,618 shares of company stock valued at $7,600,557 in the last three months. 1.34% of the stock is currently owned by company insiders.

About Targa Resources

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.