18,040 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Caxton Associates LP

Caxton Associates LP acquired a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,040 shares of the pipeline company's stock, valued at approximately $2,323,000.

Several other institutional investors have also modified their holdings of TRGP. Fifth Third Bancorp grew its position in shares of Targa Resources by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company's stock valued at $1,148,000 after buying an additional 89 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Targa Resources by 17.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 633 shares of the pipeline company's stock valued at $71,000 after acquiring an additional 93 shares in the last quarter. Catalina Capital Group LLC grew its holdings in shares of Targa Resources by 3.4% during the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company's stock worth $392,000 after purchasing an additional 99 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Targa Resources by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 17,695 shares of the pipeline company's stock worth $1,981,000 after purchasing an additional 100 shares in the last quarter. Finally, &PARTNERS increased its position in shares of Targa Resources by 1.1% during the second quarter. &PARTNERS now owns 10,107 shares of the pipeline company's stock worth $1,302,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling

In other news, CAO Julie H. Boushka sold 12,641 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the completion of the transaction, the chief accounting officer now owns 38,403 shares in the company, valued at $5,165,203.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Targa Resources news, CAO Julie H. Boushka sold 12,641 shares of Targa Resources stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the sale, the chief accounting officer now owns 38,403 shares of the company's stock, valued at approximately $5,165,203.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the transaction, the chief accounting officer now directly owns 52,257 shares of the company's stock, valued at approximately $6,898,969.14. The disclosure for this sale can be found here. Insiders have sold a total of 35,434 shares of company stock worth $4,775,590 over the last quarter. 1.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Targa Resources from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, July 2nd. Barclays lifted their target price on Targa Resources from $123.00 to $138.00 and gave the company an "overweight" rating in a research note on Wednesday, July 3rd. Morgan Stanley upped their price target on Targa Resources from $134.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, June 10th. UBS Group boosted their price objective on shares of Targa Resources from $116.00 to $147.00 and gave the company a "buy" rating in a research note on Tuesday, June 11th. Finally, The Goldman Sachs Group raised their target price on shares of Targa Resources from $147.00 to $163.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $141.77.

Targa Resources Stock Down 5.9 %

NYSE:TRGP traded down $9.24 during trading hours on Thursday, hitting $146.31. The stock had a trading volume of 2,064,258 shares, compared to its average volume of 1,649,876. The company has a market cap of $32.44 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.23 and a beta of 2.26. The business has a 50 day simple moving average of $142.28 and a two-hundred day simple moving average of $126.52. Targa Resources Corp. has a 1-year low of $77.97 and a 1-year high of $157.68. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $1.44 EPS. Analysts predict that Targa Resources Corp. will post 5.88 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.05%. Targa Resources's dividend payout ratio (DPR) is 61.73%.

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.