AXQ Capital LP Has $1.54 Million Holdings in Targa Resources, Inc. $TRGP

AXQ Capital LP increased its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,821 shares of the pipeline company’s stock after purchasing an additional 407 shares during the period. AXQ Capital LP’s holdings in Targa Resources were worth $1,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRGP. Disciplina Capital Management LLC acquired a new stake in Targa Resources during the first quarter worth $46,000. Hilltop National Bank acquired a new stake in shares of Targa Resources during the 2nd quarter valued at about $63,000. Private Trust Co. NA increased its stake 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 acquiring an additional 173 shares during the period. Wolff Wiese Magana LLC increased its stake in Targa Resources by 61.0% in the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock valued at $84,000 after acquiring an additional 183 shares during the period. Finally, MTM Investment Management LLC acquired a new position in Targa Resources in the second quarter worth about $98,000. 92.13% of the stock is owned by institutional investors.

Targa Resources Stock Up 0.1%

NYSE TRGP opened at $170.36 on Friday. The stock has a market capitalization of $36.57 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a fifty day moving average of $162.40 and a 200-day moving average of $164.73.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.70 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. On average, equities research analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, October 31st. Targa Resources’s payout ratio is 53.19%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRGP shares. Scotiabank decreased their price objective on Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Royal Bank Of Canada upped their price target on Targa Resources from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a research note on Thursday, November 6th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Targa Resources has an average rating of “Moderate Buy” and an average price target of $210.21.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the transaction, the insider directly owned 22,139 shares of the company’s stock, valued at approximately $3,812,557.19. This trade represents a 47.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.34% of the stock is owned by corporate insiders.

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.