Targa Resources, Inc. $TRGP Position Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 69.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,488 shares of the pipeline company’s stock after selling 63,445 shares during the period. Acadian Asset Management LLC’s holdings in Targa Resources were worth $4,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Disciplina Capital Management LLC bought a new position in Targa Resources during the first quarter worth $46,000. Hilltop National Bank acquired a new position in shares of Targa Resources during the second quarter valued at $63,000. Private Trust Co. NA lifted its holdings in Targa Resources by 57.1% in the second quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after buying an additional 173 shares during the period. Wolff Wiese Magana LLC boosted its stake in Targa Resources by 61.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 183 shares during the last quarter. Finally, Atwood & Palmer Inc. lifted its holdings in Targa Resources by 538.9% during the second quarter. Atwood & Palmer Inc. now owns 575 shares of the pipeline company’s stock worth $100,000 after acquiring an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several recent research reports. The Goldman Sachs Group reduced their price objective on Targa Resources from $189.00 to $188.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank reduced their price target on shares of Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating on the stock in a research report on Thursday. BMO Capital Markets boosted their price target on Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Targa Resources in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.86.

Targa Resources Price Performance

Shares of TRGP opened at $169.30 on Friday. The firm has a fifty day moving average price of $161.54 and a 200 day moving average price of $164.65. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $218.51. The stock has a market cap of $36.34 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.02). The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. As a group, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is currently 53.19%.

About Targa Resources

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.