Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. increased its position in shares of Targa Resources Corp. (NYSE:TRGPGet Rating) by 42.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,936 shares of the pipeline company’s stock after acquiring an additional 2,050 shares during the quarter. Baird Financial Group Inc.’s holdings in Targa Resources were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Targa Resources by 2.0% during the 1st quarter. Quadrant Capital Group LLC now owns 8,085 shares of the pipeline company’s stock valued at $610,000 after buying an additional 162 shares during the period. Veritable L.P. lifted its stake in shares of Targa Resources by 4.4% in the 1st quarter. Veritable L.P. now owns 4,343 shares of the pipeline company’s stock valued at $328,000 after purchasing an additional 185 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Targa Resources by 0.8% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 23,890 shares of the pipeline company’s stock worth $1,803,000 after purchasing an additional 192 shares during the period. Fieldpoint Private Securities LLC increased its position in shares of Targa Resources by 21.8% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,074 shares of the pipeline company’s stock worth $64,000 after purchasing an additional 192 shares during the last quarter. Finally, National Asset Management Inc. raised its holdings in Targa Resources by 2.4% in the 1st quarter. National Asset Management Inc. now owns 8,175 shares of the pipeline company’s stock valued at $617,000 after buying an additional 193 shares during the period. Hedge funds and other institutional investors own 87.45% of the company’s stock.

Insider Buying and Selling

In other news, Director Joe Bob Perkins sold 62,326 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $67.84, for a total value of $4,228,195.84. Following the sale, the director now directly owns 88,692 shares in the company, valued at approximately $6,016,865.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Julie H. Boushka sold 2,086 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $70.87, for a total transaction of $147,834.82. Following the completion of the sale, the chief accounting officer now owns 57,839 shares in the company, valued at $4,099,049.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joe Bob Perkins sold 62,326 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $67.84, for a total transaction of $4,228,195.84. Following the completion of the transaction, the director now owns 88,692 shares in the company, valued at $6,016,865.28. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Targa Resources Price Performance

TRGP stock opened at $70.63 on Tuesday. The business’s 50-day moving average is $67.24 and its two-hundred day moving average is $67.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.74 and a quick ratio of 0.60. The firm has a market capitalization of $15.99 billion, a P/E ratio of 66.63 and a beta of 2.36. Targa Resources Corp. has a 1 year low of $47.57 and a 1 year high of $81.50.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were issued a $0.35 dividend. The ex-dividend date was Friday, October 28th. This represents a $1.40 annualized dividend and a yield of 1.98%. Targa Resources’s dividend payout ratio (DPR) is 132.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRGP shares. TheStreet upgraded shares of Targa Resources from a “c” rating to a “b-” rating in a research report on Friday, October 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $93.00 target price on shares of Targa Resources in a research report on Thursday, September 8th. StockNews.com assumed coverage on Targa Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley boosted their price objective on Targa Resources from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Finally, Mizuho raised their target price on Targa Resources from $91.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $84.91.

Targa Resources Company Profile

(Get Rating)

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages 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.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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