Team Hewins LLC Buys Shares of 1,832 Targa Resources Corp. (NYSE:TRGP)

Team Hewins LLC acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,832 shares of the pipeline company’s stock, valued at approximately $205,000.

Several other large investors have also modified their holdings of TRGP. Price T Rowe Associates Inc. MD lifted its stake in Targa Resources by 231.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock worth $119,712,000 after purchasing an additional 962,073 shares during the last quarter. Morgan Stanley grew its holdings in Targa Resources by 16.1% during the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock worth $325,003,000 after acquiring an additional 524,794 shares during the period. New Mexico Educational Retirement Board grew its holdings in Targa Resources by 287.3% during the first quarter. New Mexico Educational Retirement Board now owns 45,700 shares of the pipeline company’s stock worth $5,118,000 after acquiring an additional 33,900 shares during the period. Ieq Capital LLC increased its stake in Targa Resources by 8.5% in the 4th quarter. Ieq Capital LLC now owns 6,169 shares of the pipeline company’s stock worth $536,000 after purchasing an additional 482 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Targa Resources by 160.3% in the 1st quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock worth $32,486,000 after purchasing an additional 178,655 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Robert Muraro sold 9,900 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.31, for a total value of $1,290,069.00. Following the completion of the sale, the insider now directly owns 186,951 shares of the company’s stock, valued at $24,361,584.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Robert Muraro sold 9,900 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.31, for a total value of $1,290,069.00. Following the completion of the transaction, the insider now directly owns 186,951 shares of the company’s stock, valued at $24,361,584.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $113.13, for a total value of $2,262,600.00. Following the completion of the transaction, the insider now directly owns 136,098 shares of the company’s stock, valued at $15,396,766.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,691 shares of company stock valued at $6,197,632. 1.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRGP. UBS Group lifted their price target on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Argus initiated coverage on Targa Resources in a research note on Wednesday, June 26th. They issued a “buy” rating and a $140.00 price objective on the stock. Royal Bank of Canada raised their price objective on Targa Resources from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Wells Fargo & Company lifted their price target on Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Scotiabank boosted their price objective on Targa Resources from $112.00 to $128.00 and gave the company a “sector outperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.08.

Targa Resources Trading Up 0.3 %

Shares of NYSE TRGP traded up $0.43 during trading on Thursday, reaching $133.32. The company had a trading volume of 464,126 shares, compared to its average volume of 1,617,649. The company’s fifty day moving average price is $120.74 and its 200-day moving average price is $106.59. Targa Resources Corp. has a 12 month low of $77.06 and a 12 month high of $133.78. The stock has a market cap of $29.56 billion, a P/E ratio of 27.34, a PEG ratio of 0.78 and a beta of 2.27. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.28 billion. As a group, research analysts expect that Targa Resources Corp. will post 5.27 earnings per share for the current year.

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.