XTX Topco Ltd Invests $2.35 Million in Targa Resources Corp. (NYSE:TRGP)

XTX Topco Ltd purchased a new stake in Targa Resources Corp. (NYSE:TRGP) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 18,283 shares of the pipeline company’s stock, valued at approximately $2,354,000.

Several other large investors also recently bought and sold shares of TRGP. Vanguard Group Inc. grew its position in shares of Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after purchasing an additional 201,817 shares in the last quarter. Blackstone Inc. grew its holdings in Targa Resources by 2.7% in the 1st quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after buying an additional 252,729 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock worth $296,647,000 after acquiring an additional 271,444 shares during the period. Norges Bank purchased a new position in shares of Targa Resources during the 4th quarter worth $187,123,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of Targa Resources by 13.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,772,359 shares of the pipeline company’s stock valued at $153,965,000 after acquiring an additional 213,070 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on TRGP shares. JPMorgan Chase & Co. boosted their target price on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Barclays increased their price objective on Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 3rd. Scotiabank lifted their target price on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price target on shares of Targa Resources from $134.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, UBS Group lifted their target price on shares of Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $140.54.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 9,900 shares of Targa Resources stock in a transaction on Friday, June 28th. The shares were sold at an average price of $130.31, for a total transaction of $1,290,069.00. Following the sale, the insider now directly owns 186,951 shares in the company, valued at approximately $24,361,584.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Targa Resources news, Director Paul W. Chung sold 5,264 shares of Targa Resources stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $138.03, for a total value of $726,589.92. Following the transaction, the director now directly owns 232,827 shares in the company, valued at approximately $32,137,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Muraro sold 9,900 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $130.31, for a total transaction of $1,290,069.00. Following the completion of the transaction, the insider now directly owns 186,951 shares in the company, valued at $24,361,584.81. The disclosure for this sale can be found here. Insiders sold 35,534 shares of company stock valued at $4,788,590 over the last three months. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Up 0.1 %

TRGP stock opened at $152.19 on Thursday. Targa Resources Corp. has a fifty-two week low of $77.97 and a fifty-two week high of $154.24. The company’s 50 day moving average price is $140.27 and its 200 day moving average price is $124.73. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The firm has a market capitalization of $33.34 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.19 and a beta of 2.26.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period last year, the business earned $1.44 EPS. On average, equities research analysts anticipate that Targa Resources Corp. will post 5.89 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, July 31st. Targa Resources’s payout ratio is 61.73%.

Targa Resources Company 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.