Two Sigma Securities LLC Has $829,000 Position in Targa Resources, Inc. $TRGP

Two Sigma Securities LLC lifted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 172.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,090 shares of the pipeline company’s stock after buying an additional 1,956 shares during the quarter. Two Sigma Securities LLC’s holdings in Targa Resources were worth $829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRGP. Hardy Reed LLC lifted its position in Targa Resources by 1.0% during the first quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock worth $1,083,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Targa Resources by 4.1% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock worth $307,000 after acquiring an additional 45 shares during the period. Hantz Financial Services Inc. grew its position in shares of Targa Resources by 10.5% in the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after purchasing an additional 50 shares during the last quarter. River Wealth Advisors LLC grew its position in shares of Targa Resources by 0.3% in the second quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock valued at $5,217,000 after purchasing an additional 50 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Targa Resources by 0.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock worth $1,376,000 after purchasing an additional 51 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 0.7%

NYSE TRGP opened at $295.82 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $307.94. The company has a 50 day moving average of $276.21 and a 200-day moving average of $258.45. The company has a market cap of $63.43 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.40 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. On average, equities research analysts expect that Targa Resources, Inc. will post 11.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s dividend payout ratio is presently 47.80%.

Insider Transactions at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the sale, the director owned 1,529 shares of the company’s stock, valued at approximately $458,195.43. This represents a 61.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total transaction of $870,690.00. Following the sale, the director owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRGP. TD Cowen lifted their price target on Targa Resources from $270.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Wolfe Research set a $335.00 price objective on Targa Resources in a research report on Friday, August 7th. Mizuho increased their price objective on Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Erste Group Bank started coverage on Targa Resources in a report on Thursday, June 25th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada boosted their target price on shares of Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $298.71.

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.