Russell Investments Group Ltd. Has $73.03 Million Holdings in Targa Resources, Inc. $TRGP

Russell Investments Group Ltd. increased its holdings in Targa Resources, Inc. (NYSE:TRGP) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,729 shares of the pipeline company’s stock after purchasing an additional 11,037 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of Targa Resources worth $73,034,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its stake in shares of Targa Resources by 1.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock worth $845,000 after acquiring an additional 64 shares in the last quarter. State of Wyoming increased its holdings in shares of Targa Resources by 3.2% during the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock valued at $361,000 after acquiring an additional 64 shares during the last quarter. Savant Capital LLC raised its stake in shares of Targa Resources by 2.6% in the 3rd quarter. Savant Capital LLC now owns 2,849 shares of the pipeline company’s stock valued at $477,000 after acquiring an additional 73 shares in the last quarter. ICONIQ Capital LLC raised its stake in shares of Targa Resources by 5.7% in the 2nd quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 78 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Targa Resources by 10.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock worth $140,000 after purchasing an additional 79 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider directly owned 31,938 shares in the company, valued at $7,311,246.96. This trade represents a 35.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick J. Mcdonie sold 31,537 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the transaction, the insider owned 305,163 shares in the company, valued at approximately $73,043,815.68. The trade was a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is currently owned by insiders.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $232.54 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. The business’s 50 day moving average is $207.40 and its two-hundred day moving average is $181.72. The company has a market cap of $49.98 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.00 and a beta of 0.84. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $250.00.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, equities analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid 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 dividend payout ratio is presently 46.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Citigroup lifted their price target on shares of Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Morgan Stanley boosted their price objective on shares of Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $241.00 price objective on shares of Targa Resources in a report on Friday, February 20th. Finally, Royal Bank Of Canada raised their target price on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.79.

Targa Resources 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.