TD Waterhouse Canada Inc. Has $783,000 Stock Holdings in Targa Resources, Inc. $TRGP

TD Waterhouse Canada Inc. trimmed its position in Targa Resources, Inc. (NYSE:TRGP) by 33.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,554 shares of the pipeline company’s stock after selling 2,248 shares during the period. TD Waterhouse Canada Inc.’s holdings in Targa Resources were worth $783,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. UMB Bank n.a. increased its position in Targa Resources by 11.9% in the second quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 70 shares during the period. QRG Capital Management Inc. lifted its position in Targa Resources by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock valued at $1,618,000 after purchasing an additional 72 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Targa Resources by 10.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock valued at $140,000 after purchasing an additional 79 shares during the last quarter. Nwam LLC grew its position in shares of Targa Resources by 4.3% during the 2nd quarter. Nwam LLC now owns 2,169 shares of the pipeline company’s stock worth $363,000 after buying an additional 89 shares during the period. Finally, RBA Wealth Management LLC raised its stake in shares of Targa Resources by 0.4% during the second quarter. RBA Wealth Management LLC now owns 22,886 shares of the pipeline company’s stock worth $3,984,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP opened at $170.36 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $218.51. The firm’s 50 day moving average price is $162.40 and its two-hundred day moving average price is $164.78. The firm has a market cap of $36.57 billion, a P/E ratio of 24.10, a PEG ratio of 0.91 and a beta of 1.16.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. On average, analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

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

Insider Activity at Targa Resources

In related news, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 1.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective 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. Stifel Nicolaus set a $213.00 price target on Targa Resources in a research report on Thursday, November 6th. Scotiabank dropped their price objective 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. Cfra Research raised Targa Resources to a “hold” rating in a research note on Friday, August 8th. Finally, BMO Capital Markets raised their target price on Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a 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 issued a Hold rating to the company. According to data from MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and an average target price of $210.21.

Targa Resources Company Profile

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.