Targa Resources Corp (TRGP) Shares Bought by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB grew its position in shares of Targa Resources Corp (NYSE:TRGP) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,106 shares of the pipeline company’s stock after purchasing an additional 2,844 shares during the period. Xact Kapitalforvaltning AB’s holdings in Targa Resources were worth $1,526,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James Trust N.A. lifted its stake in shares of Targa Resources by 15.2% in the 2nd quarter. Raymond James Trust N.A. now owns 8,591 shares of the pipeline company’s stock valued at $425,000 after acquiring an additional 1,135 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of Targa Resources by 16.1% in the 2nd quarter. Sigma Planning Corp now owns 8,377 shares of the pipeline company’s stock valued at $415,000 after acquiring an additional 1,162 shares during the last quarter. KBC Group NV lifted its stake in shares of Targa Resources by 0.8% in the 2nd quarter. KBC Group NV now owns 144,457 shares of the pipeline company’s stock valued at $7,149,000 after acquiring an additional 1,162 shares during the last quarter. First Manhattan Co. lifted its stake in shares of Targa Resources by 6.6% in the 3rd quarter. First Manhattan Co. now owns 19,639 shares of the pipeline company’s stock valued at $1,105,000 after acquiring an additional 1,214 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Targa Resources by 121.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,276 shares of the pipeline company’s stock valued at $113,000 after acquiring an additional 1,246 shares during the last quarter. 92.01% of the stock is owned by hedge funds and other institutional investors.

In other Targa Resources news, VP John Richard Klein sold 984 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $55.63, for a total transaction of $54,739.92. Following the transaction, the vice president now owns 23,988 shares in the company, valued at approximately $1,334,452.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $54.13, for a total value of $167,803.00. Following the transaction, the director now owns 120,105 shares in the company, valued at approximately $6,501,283.65. The disclosure for this sale can be found here. Insiders have sold a total of 6,176 shares of company stock valued at $334,507 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

TRGP opened at $51.30 on Friday. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 513.00 and a beta of 1.95. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.73 and a quick ratio of 0.64. Targa Resources Corp has a one year low of $40.57 and a one year high of $59.21.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 9th. The pipeline company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.40. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Targa Resources had a return on equity of 1.62% and a net margin of 2.24%. Equities research analysts forecast that Targa Resources Corp will post 0.3 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend is Tuesday, October 30th. Targa Resources’s payout ratio is -846.51%.

A number of equities research analysts have recently weighed in on the company. Barclays raised Targa Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $54.00 to $65.00 in a research note on Wednesday, October 3rd. Credit Suisse Group assumed coverage on Targa Resources in a research note on Thursday, October 11th. They issued a “neutral” rating and a $60.00 target price for the company. Raymond James boosted their target price on Targa Resources from $58.00 to $64.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 17th. Zacks Investment Research raised Targa Resources from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Saturday, September 29th. Finally, Stifel Nicolaus boosted their target price on Targa Resources from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, October 11th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.53.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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