Bessemer Group Inc. lifted its position in Targa Resources Corp (NYSE:TRGP) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,194 shares of the pipeline company’s stock after acquiring an additional 1,771 shares during the period. Bessemer Group Inc.’s holdings in Targa Resources were worth $4,290,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Targa Resources by 3.2% in the second quarter. BlackRock Inc. now owns 12,607,535 shares of the pipeline company’s stock valued at $623,947,000 after acquiring an additional 395,927 shares during the last quarter. PointState Capital LP lifted its stake in shares of Targa Resources by 92.3% in 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. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Targa Resources by 7.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,414,256 shares of the pipeline company’s stock worth $416,422,000 after buying an additional 549,161 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Targa Resources by 4.0% in the second quarter. Kayne Anderson Capital Advisors LP now owns 7,889,261 shares of the pipeline company’s stock worth $390,424,000 after buying an additional 301,000 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Targa Resources by 7.8% in the second quarter. Morgan Stanley now owns 2,155,252 shares of the pipeline company’s stock worth $106,664,000 after buying an additional 155,742 shares during the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of TRGP traded up $0.91 during trading hours on Friday, hitting $44.55. The stock had a trading volume of 3,219,677 shares, compared to its average volume of 2,276,240. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.68. Targa Resources Corp has a 52 week low of $41.75 and a 52 week high of $59.21. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of -103.60 and a beta of 1.91.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, November 8th. The pipeline company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Targa Resources had a return on equity of 1.31% and a net margin of 3.42%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, sell-side analysts anticipate that Targa Resources Corp will post 0.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date of this dividend was Tuesday, October 30th. Targa Resources’s dividend payout ratio is currently -846.51%.

In related news, Director Chris Tong acquired 2,200 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were purchased at an average price of $47.00 per share, with a total value of $103,400.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.76% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on TRGP. Zacks Investment Research cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Barclays upped their target price on shares of Targa Resources from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. Robert W. Baird set a $62.00 target price on shares of Targa Resources and gave the company a “buy” rating in a research note on Wednesday, August 15th. Raymond James reiterated a “buy” rating on shares of Targa Resources in a research note on Monday, August 13th. Finally, Royal Bank of Canada upped their target price on shares of Targa Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $58.20.

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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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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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