Artemis Investment Management LLP Has $42.09 Million Holdings in Targa Resources Corp (NYSE:TRGP)

Artemis Investment Management LLP raised its stake in Targa Resources Corp (NYSE:TRGP) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,050,050 shares of the pipeline company’s stock after acquiring an additional 73,764 shares during the quarter. Artemis Investment Management LLP owned about 0.45% of Targa Resources worth $42,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. World Asset Management Inc boosted its stake in shares of Targa Resources by 4.1% in the 2nd quarter. World Asset Management Inc now owns 7,887 shares of the pipeline company’s stock valued at $310,000 after purchasing an additional 312 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Targa Resources by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,172 shares of the pipeline company’s stock valued at $517,000 after purchasing an additional 357 shares during the last quarter. Bank of Edwardsville boosted its stake in shares of Targa Resources by 5.7% in the 2nd quarter. Bank of Edwardsville now owns 7,360 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 399 shares during the last quarter. AGF Investments LLC boosted its stake in shares of Targa Resources by 50.5% in the 2nd quarter. AGF Investments LLC now owns 1,418 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 476 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Targa Resources by 105.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.

TRGP stock traded up $0.25 during mid-day trading on Thursday, hitting $38.39. 24,622 shares of the company were exchanged, compared to its average volume of 2,242,884. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 0.73. The firm has a market cap of $9.03 billion, a P/E ratio of 192.70 and a beta of 1.77. The firm’s 50 day simple moving average is $38.24 and its 200 day simple moving average is $39.07. Targa Resources Corp has a 1-year low of $32.00 and a 1-year high of $58.04.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 8th. The pipeline company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.15. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.36 billion. Targa Resources had a negative net margin of 1.81% and a negative return on equity of 0.17%. On average, equities research analysts predict that Targa Resources Corp will post -0.88 EPS for the current fiscal year.

Several research analysts have recently issued reports on TRGP shares. Barclays reaffirmed a “buy” rating and issued a $48.00 target price on shares of Targa Resources in a research note on Thursday, July 18th. Robert W. Baird reduced their target price on shares of Targa Resources from $67.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday. Evercore ISI reaffirmed a “hold” rating on shares of Targa Resources in a research note on Sunday, August 11th. Credit Suisse Group reduced their price objective on shares of Targa Resources from $49.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, ValuEngine lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Targa Resources presently has a consensus rating of “Buy” and an average target price of $50.00.

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, 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; 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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