Targa Resources Corp. (NYSE:TRGP) Holdings Lifted by Manchester Capital Management LLC

Manchester Capital Management LLC boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 25,150.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the pipeline company’s stock after acquiring an additional 1,509 shares during the quarter. Manchester Capital Management LLC’s holdings in Targa Resources were worth $170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRGP. Blackstone Inc. lifted its holdings in shares of Targa Resources by 60.4% during the fourth quarter. Blackstone Inc. now owns 9,442,728 shares of the pipeline company’s stock valued at $820,290,000 after purchasing an additional 3,554,989 shares during the last quarter. Wellington Management Group LLP lifted its stake in Targa Resources by 5.1% during the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock valued at $713,107,000 after buying an additional 401,144 shares in the last quarter. Morgan Stanley lifted its stake in Targa Resources by 16.1% during the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock valued at $325,003,000 after buying an additional 524,794 shares in the last quarter. Norges Bank purchased a new stake in Targa Resources during the fourth quarter valued at about $187,123,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Targa Resources by 5.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,139,543 shares of the pipeline company’s stock valued at $185,862,000 after buying an additional 115,288 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 2,691 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total transaction of $304,083.00. Following the transaction, the chief accounting officer now owns 57,228 shares in the company, valued at $6,466,764. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Charles R. Crisp sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $112.54, for a total value of $787,780.00. Following the completion of the sale, the director now directly owns 95,471 shares of the company’s stock, valued at $10,744,306.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 2,691 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total value of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at $6,466,764. The disclosure for this sale can be found here. Insiders have sold a total of 52,691 shares of company stock worth $6,197,632 over the last 90 days. Insiders own 1.39% of the company’s stock.

Targa Resources Stock Up 0.1 %

NYSE:TRGP traded up $0.14 during mid-day trading on Friday, reaching $133.75. The stock had a trading volume of 207,636 shares, compared to its average volume of 1,610,167. The business’s 50 day moving average is $121.15 and its 200 day moving average is $106.77. Targa Resources Corp. has a fifty-two week low of $77.06 and a fifty-two week high of $134.96. The stock has a market cap of $29.66 billion, a P/E ratio of 27.49, a PEG ratio of 0.78 and a beta of 2.27. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRGP. Argus began coverage on shares of Targa Resources in a research note on Wednesday, June 26th. They set a “buy” rating and a $140.00 price objective for the company. Scotiabank upped their price objective on shares of Targa Resources from $112.00 to $128.00 and gave the company a “sector outperform” rating in a research note on Monday, April 15th. Mizuho upped their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays upped their target price on Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 3rd. Finally, UBS Group upped their target price on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.08.

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.