XTX Topco Ltd Has $2.43 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

XTX Topco Ltd lessened its position in Targa Resources Corp. (NYSE:TRGP) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,424 shares of the pipeline company’s stock after selling 1,859 shares during the quarter. XTX Topco Ltd’s holdings in Targa Resources were worth $2,431,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Targa Resources in the second quarter valued at $29,000. DT Investment Partners LLC acquired a new position in Targa Resources during the third quarter valued at $29,000. UMB Bank n.a. lifted its stake in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Targa Resources during the 3rd quarter worth about $35,000. Finally, Whittier Trust Co. purchased a new position in Targa Resources during the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Down 2.0 %

Shares of TRGP stock opened at $194.34 on Friday. The stock’s 50 day simple moving average is $178.78 and its 200 day simple moving average is $149.80. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 0.77 and a beta of 2.28.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the previous year, the company earned $0.97 earnings per share. As a group, research analysts predict that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,260 shares of company stock worth $29,661,212 over the last ninety days. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TRGP. The Goldman Sachs Group increased their price target on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Barclays increased their target price on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. UBS Group boosted their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada increased their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lifted their price objective on Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus target price of $176.50.

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.