XTX Topco Ltd Acquires 5,196 Shares of Targa Resources, Inc. $TRGP

XTX Topco Ltd grew its holdings in Targa Resources, Inc. (NYSE:TRGP) by 74.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,183 shares of the pipeline company’s stock after purchasing an additional 5,196 shares during the period. XTX Topco Ltd’s holdings in Targa Resources were worth $2,121,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Disciplina Capital Management LLC purchased a new stake in shares of Targa Resources during the first quarter valued at $46,000. Hilltop National Bank bought a new position in Targa Resources during the 2nd quarter valued at about $63,000. Private Trust Co. NA boosted its holdings in shares of Targa Resources by 57.1% during the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 173 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Targa Resources by 61.0% in the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 183 shares during the period. Finally, MTM Investment Management LLC bought a new stake in shares of Targa Resources in the second quarter worth approximately $98,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the sale, the insider directly owned 22,139 shares in the company, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.34% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $173.28 on Thursday. The company has a market capitalization of $37.20 billion, a P/E ratio of 24.51, a P/E/G ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $218.51. The firm’s 50 day simple moving average is $162.83 and its two-hundred day simple moving average is $165.03. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56.

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

Targa Resources Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus set a $213.00 price target on Targa Resources in a report on Thursday, November 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. JPMorgan Chase & Co. raised their target price on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Cfra Research upgraded Targa Resources to a “hold” rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Targa Resources from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and a consensus price target of $210.21.

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.