Walnut Private Equity Partners LLC reduced its stake in Targa Resources Corp (NYSE:TRGP) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,689 shares of the pipeline company’s stock after selling 30,000 shares during the period. Targa Resources makes up about 1.7% of Walnut Private Equity Partners LLC’s holdings, making the stock its 12th largest holding. Walnut Private Equity Partners LLC’s holdings in Targa Resources were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also bought and sold shares of the business. PointState Capital LP grew its holdings in shares of Targa Resources by 92.3% during the second quarter. PointState Capital LP now owns 8,853,306 shares of the pipeline company’s stock worth $438,150,000 after buying an additional 4,248,784 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Targa Resources by 1,113.0% during the 3rd quarter. Cohen & Steers Inc. now owns 1,882,318 shares of the pipeline company’s stock valued at $105,993,000 after acquiring an additional 1,727,135 shares during the period. FMR LLC raised its position in shares of Targa Resources by 1,086.3% during the 3rd quarter. FMR LLC now owns 1,070,122 shares of the pipeline company’s stock worth $60,259,000 after purchasing an additional 979,915 shares during the last quarter. Vanguard Group Inc raised its position in shares of Targa Resources by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 20,089,479 shares of the pipeline company’s stock worth $1,131,238,000 after purchasing an additional 860,247 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Targa Resources by 1,779.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 720,976 shares of the pipeline company’s stock valued at $40,598,000 after acquiring an additional 682,623 shares during the last quarter. Institutional investors own 93.25% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Wells Fargo & Co raised shares of Targa Resources from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $63.00 in a research report on Tuesday, September 18th. Barclays raised shares of Targa Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $54.00 to $65.00 in a research report on Wednesday, October 3rd. Credit Suisse Group assumed coverage on shares of Targa Resources in a research report on Thursday, October 11th. They set a “neutral” rating and a $60.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of Targa Resources from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, October 11th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.14.
In related news, Director Chris Tong acquired 2,200 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was acquired at an average cost of $47.00 per share, for a total transaction of $103,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.76% of the company’s stock.
Shares of Targa Resources stock traded down $0.72 on Friday, hitting $42.11. The company had a trading volume of 204,034 shares, compared to its average volume of 3,345,186. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.68 and a quick ratio of 0.61. The stock has a market capitalization of $10.04 billion, a PE ratio of -97.86 and a beta of 1.91. Targa Resources Corp has a 52 week low of $33.55 and a 52 week high of $59.21.
Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, November 8th. The pipeline company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.67 billion. Targa Resources had a net margin of 3.42% and a return on equity of 1.31%. On average, analysts forecast that Targa Resources Corp will post 0.13 earnings per share for the current fiscal year.
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Targa Resources Company Profile
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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