Targa Resources, Inc. $TRGP Stock Holdings Lifted by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC increased its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 30.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,570 shares of the pipeline company’s stock after acquiring an additional 3,138 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Targa Resources were worth $2,274,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State of Wyoming raised its stake in Targa Resources by 3.2% during the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock valued at $361,000 after purchasing an additional 64 shares during the period. QRG Capital Management Inc. boosted its position in shares of Targa Resources by 0.8% in the second quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock worth $1,618,000 after buying an additional 72 shares during the period. ICONIQ Capital LLC grew its holdings in shares of Targa Resources by 5.7% during the second quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock valued at $250,000 after buying an additional 78 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Targa Resources by 10.9% during the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock valued at $140,000 after buying an additional 79 shares during the period. Finally, SL Advisors LLC raised its position in Targa Resources by 0.4% during the third quarter. SL Advisors LLC now owns 18,452 shares of the pipeline company’s stock valued at $3,091,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 0.2%

Shares of NYSE TRGP opened at $201.10 on Friday. The business has a 50 day simple moving average of $182.65 and a 200 day simple moving average of $170.23. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $211.87. The stock has a market cap of $43.17 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 0.87 and a beta of 0.87. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. On average, research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of the firm’s 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 $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $172.21, for a total value of $3,444,200.00. Following the completion of the sale, the insider directly owned 22,139 shares of the company’s stock, valued at $3,812,557.19. This represents a 47.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of research reports. Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research report on Thursday, November 6th. Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Royal Bank Of Canada raised their price target on shares of Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $266.00 price objective on shares of Targa Resources in a research report on Wednesday. Finally, BMO Capital Markets increased their target price on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $213.50.

About Targa Resources

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.