Entropy Technologies LP Has $3.18 Million Stake in Targa Resources, Inc. $TRGP

Entropy Technologies LP cut its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 63.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,282 shares of the pipeline company’s stock after selling 31,577 shares during the quarter. Entropy Technologies LP’s holdings in Targa Resources were worth $3,183,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its holdings in Targa Resources by 260.2% in the second quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after purchasing an additional 93,119 shares during the period. Aberdeen Group plc boosted its position in shares of Targa Resources by 17.6% during the 2nd quarter. Aberdeen Group plc now owns 175,571 shares of the pipeline company’s stock worth $30,563,000 after purchasing an additional 26,318 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Targa Resources by 34.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,270,128 shares of the pipeline company’s stock valued at $221,104,000 after buying an additional 323,398 shares during the period. OFI Invest Asset Management increased its position in Targa Resources by 6.5% in the 2nd quarter. OFI Invest Asset Management now owns 243,628 shares of the pipeline company’s stock valued at $42,411,000 after buying an additional 14,883 shares in the last quarter. Finally, Freemont Management S.A. raised its stake in Targa Resources by 30.7% during the 2nd quarter. Freemont Management S.A. now owns 26,400 shares of the pipeline company’s stock worth $4,596,000 after buying an additional 6,200 shares during the period. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TRGP. JPMorgan Chase & Co. raised their price objective on Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Targa Resources in a research report on Wednesday, October 8th. Stifel Nicolaus set a $213.00 price objective on shares of Targa Resources in a report on Thursday, November 6th. Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, BMO Capital Markets lifted their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.21.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was 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 in the company, valued at $3,812,557.19. The trade was a 47.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.34% of the stock is owned by insiders.

Targa Resources Price Performance

TRGP opened at $170.36 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The company has a market capitalization of $36.57 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 0.91 and a beta of 1.16. The firm’s fifty day moving average price is $162.40 and its two-hundred day moving average price is $164.73. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. As a group, analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

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.