Targa Resources, Inc. $TRGP Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in Targa Resources by 18% in Q2, owning 3.74 million shares worth $651.95 million. Analysts have mixed ratings, with a consensus target price of $210.57. Insider D. Scott Pryor sold 20,000 shares, decreasing his ownership by 47.46%. Targa Resources' stock opened at $175.80, with a market cap of $37.74 billion. The company reported Q3 earnings of $2.20 per share, missing estimates slightly.

Invesco Ltd. lowered its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 18.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,745,133 shares of the pipeline company's stock after selling 820,827 shares during the period. Invesco Ltd. owned about 1.74% of Targa Resources worth $651,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Disciplina Capital Management LLC acquired a new stake in Targa Resources in the first quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Targa Resources in the 2nd quarter valued at approximately $53,000. Hilltop National Bank acquired a new stake in shares of Targa Resources in the 2nd quarter valued at $63,000. Private Trust Co. NA raised its holdings in shares of Targa Resources by 57.1% in the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company's stock valued at $83,000 after purchasing an additional 173 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of Targa Resources by 61.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company's stock worth $84,000 after purchasing an additional 183 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cfra Research raised Targa Resources to a "hold" rating in a report on Friday, August 8th. BMO Capital Markets increased their price objective on Targa Resources from $185.00 to $196.00 and gave the company an "outperform" rating in a report on Thursday, November 6th. Wells Fargo & Company reissued an "overweight" rating and set a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. Scotiabank lowered their price target on Targa Resources from $199.00 to $198.00 and set a "sector outperform" rating for the company in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. One research 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $210.57.

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Insider Activity at Targa Resources

In other news, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the sale, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. This represents a 47.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.34% of the company's stock.

Targa Resources Trading Up 2.3%

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TRGP opened at $175.80 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $218.51. The business's 50 day moving average is $163.44 and its two-hundred day moving average is $165.28. The firm has a market cap of $37.74 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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 firm had revenue of $4.15 billion during the quarter, compared to analyst estimates 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 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were paid a $1.00 dividend. The ex-dividend date was Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Targa Resources's payout ratio is currently 53.19%.

Targa Resources Profile

(Free Report)

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.

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