Targa Resources Corp. (NYSE:TRGP) Stake Trimmed by US Bancorp DE

US Bancorp DE lowered its stake in Targa Resources Corp. (NYSE:TRGPGet Rating) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,407 shares of the pipeline company’s stock after selling 380 shares during the quarter. US Bancorp DE’s holdings in Targa Resources were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRGP. EdgeRock Capital LLC purchased a new position in Targa Resources during the 3rd quarter valued at about $28,000. Chilton Capital Management LLC purchased a new position in Targa Resources during the second quarter valued at approximately $31,000. SeaCrest Wealth Management LLC purchased a new position in Targa Resources during the second quarter valued at approximately $34,000. Ronald Blue Trust Inc. acquired a new position in Targa Resources in the 2nd quarter valued at approximately $47,000. Finally, Fieldpoint Private Securities LLC lifted its position in Targa Resources by 21.8% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,074 shares of the pipeline company’s stock worth $64,000 after buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Targa Resources Stock Up 1.1 %

Shares of Targa Resources stock opened at $75.66 on Friday. The stock has a market capitalization of $17.13 billion, a P/E ratio of 71.38 and a beta of 2.30. The company has a quick ratio of 0.60, a current ratio of 0.74 and a debt-to-equity ratio of 2.20. The stock has a 50 day moving average price of $72.63 and a two-hundred day moving average price of $68.49. Targa Resources Corp. has a 12-month low of $52.60 and a 12-month high of $81.50.

Targa Resources (NYSE:TRGPGet Rating) last announced its earnings results on Thursday, November 3rd. The pipeline company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.39). Targa Resources had a return on equity of 21.02% and a net margin of 2.34%. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $6.96 billion. Equities analysts expect that Targa Resources Corp. will post 4.53 earnings per share for the current year.

Insider Transactions at Targa Resources

In related news, CAO Julie H. Boushka sold 2,086 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $70.87, for a total transaction of $147,834.82. Following the completion of the transaction, the chief accounting officer now directly owns 57,839 shares in the company, valued at approximately $4,099,049.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Julie H. Boushka sold 2,086 shares of Targa Resources stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $70.87, for a total transaction of $147,834.82. Following the sale, the chief accounting officer now directly owns 57,839 shares of the company’s stock, valued at $4,099,049.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joe Bob Perkins sold 62,326 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $67.84, for a total value of $4,228,195.84. Following the completion of the transaction, the director now directly owns 88,692 shares of the company’s stock, valued at approximately $6,016,865.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,512 shares of company stock worth $4,758,381. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TRGP. Morgan Stanley upped their price target on shares of Targa Resources from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 19th. TheStreet downgraded Targa Resources from a “b-” rating to a “c” rating in a research note on Monday, December 5th. Truist Financial boosted their price target on Targa Resources from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, November 28th. Citigroup began coverage on Targa Resources in a research note on Thursday, December 8th. They issued a “buy” rating and a $95.00 price target for the company. Finally, StockNews.com began coverage on Targa Resources in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average price target of $91.64.

About Targa Resources

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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation.

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

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