Blair William & Co. IL Has $5.24 Million Stock Position in Targa Resources, Inc. $TRGP

Blair William & Co. IL lowered its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 53.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,073 shares of the pipeline company’s stock after selling 34,336 shares during the period. Blair William & Co. IL’s holdings in Targa Resources were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management grew its position in Targa Resources by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company’s stock worth $991,000 after purchasing an additional 62 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in Targa Resources by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock worth $356,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. grew its position in Targa Resources by 11.9% in the 2nd quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 70 shares in the last quarter. QRG Capital Management Inc. grew its position in Targa Resources by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock worth $1,618,000 after purchasing an additional 72 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Targa Resources by 1.8% in the 1st quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company’s stock worth $855,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $152.43 on Monday. The stock has a market capitalization of $32.80 billion, a P/E ratio of 21.56, a PEG ratio of 0.91 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The firm’s 50 day moving average is $165.04 and its 200 day moving average is $167.53. Targa Resources, Inc. has a 12 month low of $150.00 and a 12 month high of $218.51.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Targa Resources in a research report on Wednesday, October 8th. Finally, Barclays increased their target price on shares of Targa Resources from $178.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Targa Resources presently has a consensus rating of “Moderate Buy” and an average target price of $207.67.

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.