Dorsey Wright & Associates Grows Holdings in Targa Resources Corp. (NYSE:TRGP)

Dorsey Wright & Associates lifted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 50.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,972 shares of the pipeline company's stock after acquiring an additional 14,722 shares during the period. Targa Resources accounts for approximately 1.5% of Dorsey Wright & Associates' holdings, making the stock its 12th biggest holding. Dorsey Wright & Associates' holdings in Targa Resources were worth $6,508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TRGP. Wellington Management Group LLP raised its position 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 worth $2,235,927,000 after purchasing an additional 633,589 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Targa Resources in the 2nd quarter worth about $72,345,000. American Century Companies Inc. raised its position in Targa Resources by 239.1% in the 2nd quarter. American Century Companies Inc. now owns 791,095 shares of the pipeline company's stock worth $101,877,000 after purchasing an additional 557,832 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 271,444 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Targa Resources by 75.4% during the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock worth $89,413,000 after acquiring an additional 259,776 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Down 2.0 %

TRGP traded down $3.99 during trading on Friday, hitting $194.34. The stock had a trading volume of 1,497,233 shares, compared to its average volume of 1,570,280. The company has a market capitalization of $42.38 billion, a PE ratio of 35.14, a PEG ratio of 0.77 and a beta of 2.28. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock has a 50 day simple moving average of $178.78 and a two-hundred day simple moving average of $150.27.

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

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. Targa Resources's dividend payout ratio is presently 54.25%.

Insider Buying and Selling

In related news, insider D. Scott Pryor sold 30,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now owns 110,470 shares of the company's stock, valued at approximately $17,181,399.10. This trade represents a 57.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,260 shares of company stock valued at $29,661,212. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. US Capital Advisors lowered shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. UBS Group raised their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Argus raised shares of Targa Resources to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $176.50.

About Targa Resources

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.