National Pension Service Has $44.16 Million Stake in Targa Resources Corp. (NYSE:TRGP)

National Pension Service grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,382 shares of the pipeline company's stock after buying an additional 8,321 shares during the period. National Pension Service owned 0.14% of Targa Resources worth $44,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Targa Resources in the second quarter valued at approximately $29,000. DT Investment Partners LLC bought a new position in Targa Resources during the 3rd quarter valued at $29,000. UMB Bank n.a. increased its position in shares of Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 222 shares during the period. Whittier Trust Co. bought a new stake in shares of Targa Resources in the 2nd quarter worth $44,000. Finally, Rogco LP acquired a new stake in shares of Targa Resources in the first quarter valued at $56,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director now owns 110,470 shares of the company's stock, valued at $17,181,399.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Paul W. Chung sold 5,264 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $138.03, for a total transaction of $726,589.92. Following the transaction, the director now owns 232,827 shares of the company's stock, valued at approximately $32,137,110.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the sale, the director now directly owns 110,470 shares of the company's stock, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,764 shares of company stock worth $24,829,770 over the last three months. Corporate insiders own 1.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TRGP shares. Scotiabank boosted their price target on shares of Targa Resources from $128.00 to $142.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised their target price on shares of Targa Resources from $153.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their price objective on Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Finally, Argus upgraded Targa Resources to a "strong-buy" rating in a report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $157.21.

Targa Resources Stock Up 0.9 %

Shares of Targa Resources stock traded up $1.75 during trading on Thursday, hitting $187.79. 1,210,798 shares of the stock traded hands, compared to its average volume of 1,652,460. The stock has a market cap of $41.14 billion, a P/E ratio of 39.17, a PEG ratio of 1.31 and a beta of 2.24. The company has a fifty day moving average price of $157.18 and a two-hundred day moving average price of $137.19. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $189.62. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $4.24 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period in the previous year, the company earned $0.97 earnings per share. Equities research analysts predict that Targa Resources Corp. will post 5.96 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, October 31st. Targa Resources's payout ratio is 63.16%.

Targa Resources 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.