Nykredit A S Buys Shares of 152,520 Targa Resources, Inc. $TRGP

Nykredit A S purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 152,520 shares of the pipeline company’s stock, valued at approximately $40,897,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Woodline Partners LP lifted its stake in shares of Targa Resources by 40.7% during the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after buying an additional 5,327 shares in the last quarter. Focus Partners Wealth raised its holdings in Targa Resources by 157.4% during the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares during the period. Baird Financial Group Inc. lifted its position in shares of Targa Resources by 6.3% during the second quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock worth $644,000 after acquiring an additional 219 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Targa Resources by 13.1% in the second quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock worth $787,000 after acquiring an additional 524 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Targa Resources by 11.0% in the second quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock worth $5,550,000 after acquiring an additional 3,163 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.0%

Targa Resources stock opened at $293.51 on Friday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $307.94. The stock has a market cap of $62.94 billion, a P/E ratio of 28.06, a PEG ratio of 1.39 and a beta of 0.72. The firm’s fifty day moving average price is $277.16 and its 200-day moving average price is $259.47.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion. Equities research analysts forecast that Targa Resources, Inc. will post 11.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s dividend payout ratio (DPR) is 47.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus set a $268.00 price target on Targa Resources in a research report on Friday, May 8th. Mizuho raised their target price on Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wolfe Research set a $335.00 target price on Targa Resources in a report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Targa Resources in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $301.18.

Insider Activity

In related news, Director Waters S. Iv Davis sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the transaction, the director directly owned 1,529 shares in the company, valued at approximately $458,195.43. This represents a 61.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the sale, the director directly owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,216 shares of company stock worth $2,127,634. 1.37% of the stock is currently owned by insiders.

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.