Targa Resources Corp. (NYSE:TRGP) Holdings Raised by Tidal Investments LLC

Tidal Investments LLC grew its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 326.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,572 shares of the pipeline company's stock after buying an additional 10,388 shares during the period. Tidal Investments LLC's holdings in Targa Resources were worth $2,009,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TRGP. Wealth Enhancement Advisory Services LLC raised its position in shares of Targa Resources by 8.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,050 shares of the pipeline company's stock valued at $1,552,000 after buying an additional 968 shares during the last quarter. Blue Trust Inc. raised its holdings in Targa Resources by 18.0% in the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the pipeline company's stock valued at $192,000 after acquiring an additional 227 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Targa Resources by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company's stock worth $1,148,000 after purchasing an additional 89 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Targa Resources during the second quarter worth $283,000. Finally, MN Wealth Advisors LLC grew its position in shares of Targa Resources by 38.3% in the second quarter. MN Wealth Advisors LLC now owns 3,793 shares of the pipeline company's stock valued at $489,000 after purchasing an additional 1,050 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several recent analyst reports. Barclays increased their target price on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. 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 research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Targa Resources from $147.00 to $163.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Argus upgraded shares of Targa Resources to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada upped their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources has an average rating of "Buy" and a consensus price target of $176.14.

Insider Activity

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares of the company's stock, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of the business'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 completion of the sale, the director now directly owns 110,470 shares of the company's stock, valued at $17,181,399.10. The trade was a 57.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,260 shares of company stock worth $29,661,212 over the last ninety days. Corporate insiders own 1.39% of the company's stock.

Targa Resources Stock Down 1.2 %

Shares of NYSE:TRGP traded down $2.18 during mid-day trading on Tuesday, hitting $181.22. 2,425,339 shares of the company traded hands, compared to its average volume of 1,656,612. The firm has a market cap of $39.52 billion, a P/E ratio of 33.16, a PEG ratio of 0.73 and a beta of 2.28. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The firm's 50 day simple moving average is $182.56 and its 200 day simple moving average is $153.25. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.85 billion for 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 last year, the firm posted $0.97 earnings per share. On average, equities analysts anticipate that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.66%. Targa Resources's payout ratio is currently 54.25%.

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.