Targa Resources, Inc. $TRGP Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its stake in Targa Resources, Inc. (NYSE:TRGP) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,495 shares of the pipeline company’s stock after selling 315 shares during the period. Blue Trust Inc.’s holdings in Targa Resources were worth $434,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC increased its holdings in shares of Targa Resources by 578.9% in the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Disciplina Capital Management LLC acquired a new position in shares of Targa Resources in the first quarter valued at approximately $46,000. Olde Wealth Management LLC purchased a new stake in shares of Targa Resources in the first quarter valued at approximately $52,000. Wolff Wiese Magana LLC boosted its stake in shares of Targa Resources by 376.2% in the first quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock valued at $60,000 after buying an additional 237 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Targa Resources in the second quarter valued at approximately $63,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $151.65 on Tuesday. 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 stock has a fifty day moving average of $164.78 and a two-hundred day moving average of $167.21. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.91 and a beta of 1.12. Targa Resources, Inc. has a fifty-two week low of $150.00 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.92. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. On average, analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of analyst reports. Cfra Research upgraded Targa Resources to a “hold” rating in a research note on Friday, August 8th. Scotiabank restated an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. BMO Capital Markets started coverage on Targa Resources in a research note on Friday, September 19th. They issued an “outperform” rating and a $185.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and a consensus target price of $207.67.

Targa Resources 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.