Targa Resources, Inc. $TRGP Position Lifted by Eagle Global Advisors LLC

Eagle Global Advisors LLC lifted its stake in Targa Resources, Inc. (NYSE:TRGP) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,908 shares of the pipeline company’s stock after purchasing an additional 67,193 shares during the period. Targa Resources accounts for approximately 3.7% of Eagle Global Advisors LLC’s holdings, making the stock its 4th largest position. Eagle Global Advisors LLC’s holdings in Targa Resources were worth $95,482,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TRGP. Norges Bank bought a new stake in Targa Resources during the second quarter valued at about $708,366,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Targa Resources by 441.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 675,352 shares of the pipeline company’s stock valued at $117,565,000 after buying an additional 550,591 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Targa Resources by 306.6% during the 2nd quarter. Franklin Resources Inc. now owns 601,370 shares of the pipeline company’s stock valued at $104,686,000 after buying an additional 453,460 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Targa Resources by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 27,960,214 shares of the pipeline company’s stock valued at $4,867,314,000 after acquiring an additional 375,939 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in Targa Resources by 290.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 503,770 shares of the pipeline company’s stock worth $87,696,000 after acquiring an additional 374,768 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the 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 owned 22,139 shares of the company’s stock, valued at $3,812,557.19. This represents a 47.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Stock Performance

TRGP opened at $182.79 on Thursday. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77. The stock has a market capitalization of $39.24 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 0.87 and a beta of 0.87. The company has a fifty day moving average of $177.52 and a 200 day moving average of $168.60. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last released 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). The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. As a group, sell-side analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRGP has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target 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. The Goldman Sachs Group restated a “buy” rating and set a $196.00 target price on shares of Targa Resources in a research note on Monday. Scotiabank upped their target price on shares of Targa Resources from $198.00 to $199.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Morgan Stanley raised their price target on Targa Resources from $240.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Finally, BMO Capital Markets boosted their price objective on Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.36.

About Targa Resources

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.