New York State Common Retirement Fund Has $23.52 Million Stock Holdings in Targa Resources, Inc. $TRGP

New York State Common Retirement Fund grew its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,355 shares of the pipeline company’s stock after buying an additional 7,400 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Targa Resources worth $23,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Peoples Financial Services CORP. bought a new stake in Targa Resources during the 3rd quarter worth approximately $34,000. Root Financial Partners LLC bought a new position in shares of Targa Resources in the third quarter valued at approximately $39,000. Avion Wealth boosted its position in shares of Targa Resources by 475.0% during the third quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after buying an additional 228 shares during the last quarter. First Horizon Corp bought a new stake in Targa Resources during the third quarter worth $47,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Targa Resources during the second quarter worth $53,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRGP. BMO Capital Markets lifted their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley reissued an “overweight” rating and set a $266.00 price target on shares of Targa Resources in a research report on Wednesday. Wall Street Zen downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.50.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the sale, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider D. Scott Pryor sold 20,000 shares of Targa Resources 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 completion of the transaction, the insider owned 22,139 shares of the company’s stock, valued at $3,812,557.19. The trade was a 47.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.34% of the company’s stock.

Targa Resources Stock Down 0.2%

Targa Resources stock opened at $201.10 on Friday. The firm has a 50 day moving average price of $182.65 and a 200-day moving average price of $170.23. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $211.87. The company has a market capitalization of $43.17 billion, a P/E ratio of 26.74, a P/E/G ratio of 0.87 and a beta of 0.87.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. As a group, equities analysts predict 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 Friday, February 13th. Investors of record on Friday, January 30th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 2.0%. Targa Resources’s dividend payout ratio (DPR) is 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.