Aberdeen Group plc Boosts Stock Holdings in Targa Resources, Inc. $TRGP

Aberdeen Group plc raised its stake in Targa Resources, Inc. (NYSE:TRGP) by 17.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,571 shares of the pipeline company’s stock after buying an additional 26,318 shares during the period. Aberdeen Group plc’s holdings in Targa Resources were worth $30,563,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Targa Resources by 25.1% during the first quarter. Bessemer Group Inc. now owns 2,466 shares of the pipeline company’s stock worth $494,000 after acquiring an additional 495 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Targa Resources by 48.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,535 shares of the pipeline company’s stock valued at $508,000 after acquiring an additional 823 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in shares of Targa Resources in the 1st quarter valued at $544,000. Vontobel Holding Ltd. raised its stake in shares of Targa Resources by 29.9% in the 1st quarter. Vontobel Holding Ltd. now owns 3,758 shares of the pipeline company’s stock valued at $753,000 after acquiring an additional 864 shares during the period. Finally, Peak Financial Advisors LLC acquired a new position in Targa Resources in the 2nd quarter worth $414,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRGP. Barclays boosted their target price on shares of Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada increased their price objective on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price objective (up from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.67.

Targa Resources Stock Down 5.5%

Shares of NYSE:TRGP opened at $152.43 on Monday. 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 company has a market cap of $32.80 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. Targa Resources, Inc. has a 52 week low of $150.00 and a 52 week high of $218.51. The firm has a 50 day simple moving average of $165.04 and a 200 day simple moving average of $167.53.

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

Targa Resources Company Profile

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.