Bramshill Investments LLC Has $1.97 Million Holdings in Targa Resources Corp (TRGP)

Bramshill Investments LLC reduced its stake in Targa Resources Corp (NYSE:TRGP) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,768 shares of the pipeline company’s stock after selling 1,745 shares during the period. Targa Resources comprises 0.8% of Bramshill Investments LLC’s investment portfolio, making the stock its 16th largest position. Bramshill Investments LLC’s holdings in Targa Resources were worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in TRGP. PointState Capital LP increased its stake in Targa Resources by 92.3% in the 2nd quarter. PointState Capital LP now owns 8,853,306 shares of the pipeline company’s stock worth $438,150,000 after purchasing an additional 4,248,784 shares during the period. Brookfield Asset Management Inc. increased its stake in Targa Resources by 158.1% in the 1st quarter. Brookfield Asset Management Inc. now owns 6,702,240 shares of the pipeline company’s stock worth $294,899,000 after purchasing an additional 4,105,434 shares during the period. Summit Trail Advisors LLC increased its stake in Targa Resources by 4,599.0% in the 1st quarter. Summit Trail Advisors LLC now owns 3,385,039 shares of the pipeline company’s stock worth $3,385,000 after purchasing an additional 3,313,002 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Targa Resources in the 2nd quarter worth approximately $96,070,000. Finally, HITE Hedge Asset Management LLC purchased a new position in Targa Resources in the 2nd quarter worth approximately $34,898,000. 92.23% of the stock is currently owned by institutional investors and hedge funds.

NYSE TRGP opened at $55.13 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.64 and a current ratio of 0.73. Targa Resources Corp has a twelve month low of $39.59 and a twelve month high of $56.42. The company has a market cap of $12.53 billion, a P/E ratio of -128.21 and a beta of 2.09.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 9th. The pipeline company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.40. Targa Resources had a return on equity of 1.62% and a net margin of 2.24%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. research analysts predict that Targa Resources Corp will post 0.27 EPS for the current fiscal year.

In related news, Director Charles R. Crisp sold 3,100 shares of Targa Resources stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $54.13, for a total transaction of $167,803.00. Following the sale, the director now directly owns 120,105 shares in the company, valued at $6,501,283.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Richard Klein sold 2,092 shares of Targa Resources stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $53.52, for a total value of $111,963.84. Following the sale, the chief accounting officer now owns 24,972 shares in the company, valued at $1,336,501.44. The disclosure for this sale can be found here. Insiders have sold 6,176 shares of company stock worth $334,507 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on TRGP shares. Jefferies Financial Group reissued a “$51.76” rating and set a $55.00 target price on shares of Targa Resources in a research note on Wednesday, July 18th. UBS Group boosted their target price on Targa Resources from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Stifel Nicolaus reissued a “buy” rating and set a $57.00 target price (up from $53.00) on shares of Targa Resources in a research note on Friday, August 10th. Citigroup boosted their target price on Targa Resources from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Finally, ValuEngine raised Targa Resources from a “hold” rating to a “buy” rating in a research note on Saturday, July 14th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Targa Resources currently has a consensus rating of “Hold” and an average target price of $55.94.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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