Targa Resources Corp. (NYSE:TRGP) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 528.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,332 shares of the pipeline company's stock after acquiring an additional 4,484 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Targa Resources were worth $789,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC purchased a new stake in Targa Resources during the third quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the second quarter valued at $29,000. UMB Bank n.a. increased its position in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after buying an additional 222 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth $35,000. Finally, Whittier Trust Co. purchased a new stake in shares of Targa Resources in the 2nd quarter worth about $44,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company's stock, valued at $25,504,736.20. This represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 26.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,760 shares of company stock worth $30,026,712. 1.44% of the stock is owned by insiders.

Targa Resources Trading Up 1.2 %

NYSE TRGP opened at $203.42 on Wednesday. The company has a market cap of $44.36 billion, a P/E ratio of 36.78, a P/E/G ratio of 0.80 and a beta of 2.24. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a 50-day moving average of $171.40 and a 200-day moving average of $145.62.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the prior year, the business posted $0.97 earnings per share. As a group, equities analysts predict that Targa Resources Corp. will post 6.23 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Thursday, October 31st. Targa Resources's dividend payout ratio (DPR) is currently 54.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TRGP shares. Argus upgraded shares of Targa Resources to a "strong-buy" rating in a research report on Tuesday, September 3rd. Stifel Nicolaus lifted their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their target price on Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Barclays boosted their price target on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Finally, US Capital Advisors downgraded Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $176.50.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.