Targa Resources, Inc. $TRGP Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in Targa Resources, Inc. (NYSE:TRGP) by 33.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,331 shares of the pipeline company’s stock after selling 6,080 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Targa Resources were worth $2,147,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Stratos Wealth Advisors LLC boosted its holdings in shares of Targa Resources by 3.6% in the first quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock valued at $356,000 after acquiring an additional 62 shares during the period. UMB Bank n.a. boosted its holdings in shares of Targa Resources by 11.9% in the second quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock valued at $115,000 after acquiring an additional 70 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Targa Resources by 0.8% in the second quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock valued at $1,618,000 after acquiring an additional 72 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Targa Resources by 1.8% in the first quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company’s stock valued at $855,000 after acquiring an additional 74 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Targa Resources by 6.1% in the first quarter. Proficio Capital Partners LLC now owns 1,373 shares of the pipeline company’s stock valued at $275,000 after acquiring an additional 79 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

Targa Resources stock opened at $151.39 on Friday. Targa Resources, Inc. has a one year low of $144.14 and a one year 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 business has a fifty day moving average of $161.55 and a two-hundred day moving average of $165.11. The company has a market cap of $32.58 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.82 billion. As a group, analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Targa Resources’s dividend payout ratio (DPR) is 56.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TRGP shares. Wall Street Zen upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. boosted their price objective on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Wells Fargo & Company reissued an “overweight” rating and issued a $205.00 price objective (up from $198.00) on shares of Targa Resources in a research note on Friday, August 8th. Mizuho dropped their price objective on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Finally, Cfra Research raised shares of Targa Resources to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and an average target price of $209.50.

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.