Pacer Advisors Inc. Has $7.48 Million Holdings in Targa Resources, Inc. $TRGP

Pacer Advisors Inc. decreased its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,849 shares of the pipeline company’s stock after selling 5,912 shares during the period. Pacer Advisors Inc.’s holdings in Targa Resources were worth $7,484,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Targa Resources by 1.3% in the fourth quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock valued at $2,337,289,000 after purchasing an additional 162,878 shares in the last quarter. Geode Capital Management LLC boosted its position in Targa Resources by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after acquiring an additional 45,495 shares during the last quarter. Norges Bank bought a new position in shares of Targa Resources during the 4th quarter worth approximately $735,758,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Targa Resources by 20.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock valued at $625,272,000 after purchasing an additional 572,562 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Targa Resources by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock worth $607,023,000 after purchasing an additional 1,075,246 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRGP has been the topic of several recent research reports. Seaport Research Partners reiterated a “neutral” rating on shares of Targa Resources in a research note on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Targa Resources in a research report on Thursday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $310.00 price target on shares of Targa Resources in a research report on Tuesday, July 21st. US Capital Advisors cut shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Finally, UBS Group reiterated a “buy” rating and issued a $318.00 price target on shares of Targa Resources in a research note on Thursday, July 9th. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and a consensus target price of $288.00.

Targa Resources Price Performance

Shares of TRGP opened at $259.64 on Thursday. The firm has a market capitalization of $55.73 billion, a PE ratio of 26.25, a PEG ratio of 1.33 and a beta of 0.72. The company’s 50-day moving average is $268.70 and its 200-day moving average is $247.29. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $291.04. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a return on equity of 71.00% and a net margin of 12.87%.The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.68 billion. Equities analysts forecast that Targa Resources, Inc. will post 10.84 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $1.25 per share. The ex-dividend date is Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.9%. Targa Resources’s dividend payout ratio (DPR) is 50.56%.

Insider Activity

In other news, Director Charles R. Crisp sold 10,602 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director owned 66,492 shares in the company, valued at $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

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.