Osaic Holdings Inc. Cuts Position in Targa Resources, Inc. $TRGP

Osaic Holdings Inc. lessened its position in Targa Resources, Inc. (NYSE:TRGP) by 50.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,464 shares of the pipeline company’s stock after selling 40,772 shares during the quarter. Osaic Holdings Inc.’s holdings in Targa Resources were worth $7,053,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TRGP. Elevation Point Wealth Partners LLC purchased a new position in shares of Targa Resources in the 2nd quarter worth about $53,000. Hilltop National Bank purchased a new position in shares of Targa Resources during the 2nd quarter valued at about $63,000. Kestra Investment Management LLC bought a new stake in Targa Resources in the 2nd quarter worth approximately $70,000. Private Trust Co. NA boosted 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 worth $83,000 after buying an additional 173 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted 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 worth $84,000 after buying an additional 183 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TRGP shares. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank Of Canada increased their target price on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Morgan Stanley lifted their target price on shares of Targa Resources from $240.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. BMO Capital Markets upped their price target on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $228.00 price objective on shares of Targa Resources in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.79.

Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the transaction, the insider owned 22,139 shares in the company, valued at $3,812,557.19. The trade was a 47.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. This trade represents a 8.51% decrease in their position. The SEC filing for this sale provides additional information. 1.34% of the stock is owned by insiders.

Targa Resources Stock Down 0.2%

Shares of NYSE TRGP opened at $178.33 on Monday. The firm’s fifty day moving average is $167.15 and its 200 day moving average is $167.01. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.03 and a beta of 0.89.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). Targa Resources had a return on equity of 51.87% and a net margin of 9.35%.The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.70 billion. On average, equities research analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.