Czech National Bank Has $8.44 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Czech National Bank grew its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,281 shares of the pipeline company's stock after buying an additional 2,653 shares during the quarter. Czech National Bank's holdings in Targa Resources were worth $8,440,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock valued at $2,235,927,000 after acquiring an additional 633,589 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Targa Resources by 1.7% in the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company's stock worth $843,680,000 after purchasing an additional 97,583 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Targa Resources by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company's stock worth $296,647,000 after purchasing an additional 271,444 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Targa Resources by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company's stock valued at $197,076,000 after purchasing an additional 14,287 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Targa Resources by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company's stock valued at $186,139,000 after buying an additional 96,268 shares during the last quarter. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of recent research reports. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on Targa Resources from $190.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Morgan Stanley upped their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. US Capital Advisors cut shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $189.21.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded up $3.87 during trading on Wednesday, reaching $205.25. 1,444,744 shares of the stock were exchanged, compared to its average volume of 1,481,783. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The stock has a 50-day moving average price of $190.21 and a 200-day moving average price of $162.26. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market cap of $44.76 billion, a PE ratio of 37.12, a PEG ratio of 0.73 and a beta of 2.30.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the previous year, the company posted $0.97 EPS. Research analysts expect that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now owns 35,143 shares of the company's stock, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares of the company's stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by corporate insiders.

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.