Targa Resources Corp. (NYSE:TRGP) Stock Holdings Lowered by Oak Thistle LLC

Oak Thistle LLC trimmed its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,258 shares of the pipeline company's stock after selling 3,655 shares during the quarter. Targa Resources accounts for approximately 0.6% of Oak Thistle LLC's portfolio, making the stock its 18th largest holding. Oak Thistle LLC's holdings in Targa Resources were worth $2,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock valued at $2,235,927,000 after purchasing an additional 633,589 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Targa Resources in the second quarter valued at about $72,345,000. Dimensional Fund Advisors LP raised its holdings in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company's stock valued at $296,647,000 after buying an additional 271,444 shares during the period. National Bank of Canada FI lifted its position in Targa Resources by 75.4% during the 3rd 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Targa Resources by 599.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company's stock worth $42,619,000 after acquiring an additional 246,762 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus boosted their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Targa Resources presently has a consensus rating of "Buy" and a consensus target price of $189.21.

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 stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider D. Scott Pryor sold 30,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now owns 82,979 shares of the company's stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.44% of the company's stock.

Targa Resources Stock Performance

Shares of TRGP traded up $3.87 during mid-day trading on Wednesday, hitting $205.25. The stock had a trading volume of 1,444,744 shares, compared to its average volume of 1,481,681. Targa Resources Corp. has a fifty-two week low of $81.03 and a fifty-two week high of $209.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company 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. The company's fifty day simple moving average is $190.21 and its two-hundred day simple moving average is $162.26.

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

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.