Rhumbline Advisers Has $79.81 Million Stake in Targa Resources, Inc. $TRGP

Rhumbline Advisers reduced its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 476,339 shares of the pipeline company’s stock after selling 7,081 shares during the quarter. Rhumbline Advisers owned about 0.22% of Targa Resources worth $79,806,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in Targa Resources by 12.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,057 shares of the pipeline company’s stock worth $1,852,000 after buying an additional 1,239 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Targa Resources by 1.3% during the third quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after acquiring an additional 64 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in Targa Resources by 25.4% in the third quarter. Stratos Wealth Advisors LLC now owns 2,860 shares of the pipeline company’s stock valued at $479,000 after acquiring an additional 580 shares during the last quarter. Navellier & Associates Inc. increased its position in Targa Resources by 1.0% in the third quarter. Navellier & Associates Inc. now owns 64,901 shares of the pipeline company’s stock worth $10,873,000 after purchasing an additional 624 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Targa Resources in the third quarter worth about $243,000. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of Targa Resources stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the transaction, the insider directly owned 29,561 shares in the company, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.34% of the company’s stock.

Targa Resources Stock Down 1.6%

Shares of NYSE:TRGP opened at $218.42 on Friday. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $224.98. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $46.89 billion, a PE ratio of 29.04, a PEG ratio of 0.95 and a beta of 0.88. The company has a 50 day moving average price of $189.29 and a two-hundred day moving average price of $173.02.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%.

Analyst Ratings Changes

TRGP has been the topic of a number of research reports. Scotiabank restated an “outperform” rating and set a $224.00 target price on shares of Targa Resources in a research report on Friday, January 16th. Royal Bank Of Canada increased their price objective on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a report on Thursday, November 6th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Finally, Weiss Ratings upgraded Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.50.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.