Catalina Capital Group LLC Grows Stake in Targa Resources Corp. (NYSE:TRGP)

Catalina Capital Group LLC increased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,043 shares of the pipeline company’s stock after purchasing an additional 99 shares during the quarter. Catalina Capital Group LLC’s holdings in Targa Resources were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in Targa Resources by 15,867.4% during the 4th quarter. International Assets Investment Management LLC now owns 89,737 shares of the pipeline company’s stock valued at $7,795,000 after buying an additional 89,175 shares in the last quarter. Signaturefd LLC grew its holdings in Targa Resources by 6.8% during the 4th quarter. Signaturefd LLC now owns 5,776 shares of the pipeline company’s stock valued at $502,000 after buying an additional 368 shares in the last quarter. CWM LLC grew its holdings in Targa Resources by 28.7% during the 4th quarter. CWM LLC now owns 4,023 shares of the pipeline company’s stock valued at $349,000 after buying an additional 897 shares in the last quarter. GAMMA Investing LLC purchased a new position in Targa Resources during the 4th quarter valued at approximately $137,000. Finally, Fractal Investments LLC grew its holdings in Targa Resources by 0.8% during the 4th quarter. Fractal Investments LLC now owns 286,539 shares of the pipeline company’s stock valued at $24,892,000 after buying an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.9 %

Shares of TRGP stock traded up $1.28 on Friday, reaching $144.13. 869,714 shares of the company’s stock were exchanged, compared to its average volume of 1,624,920. Targa Resources Corp. has a 52 week low of $77.97 and a 52 week high of $144.84. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $31.96 billion, a PE ratio of 29.66, a P/E/G ratio of 1.14 and a beta of 2.27. The company’s fifty day simple moving average is $133.71 and its 200 day simple moving average is $117.81.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same period in the previous year, the company posted $1.44 EPS. As a group, analysts forecast that Targa Resources Corp. will post 5.8 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, July 31st. Targa Resources’s dividend payout ratio (DPR) is presently 61.73%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised their price target on Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 3rd. Scotiabank raised their price objective on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 17th. UBS Group raised their price objective on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their price objective on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group raised their price objective on Targa Resources from $132.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.54.

Insider Buying and Selling at Targa Resources

In related news, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the transaction, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the transaction, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now owns 29,603 shares in the company, valued at $4,027,784.18. The disclosure for this sale can be found here. Insiders sold a total of 43,034 shares of company stock valued at $5,623,890 in the last ninety days. Corporate insiders own 1.39% of the company’s stock.

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.