ABN Amro Investment Solutions Buys 3,751 Shares of Targa Resources, Inc. $TRGP

ABN Amro Investment Solutions boosted its stake in Targa Resources, Inc. (NYSE:TRGP) by 30.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,137 shares of the pipeline company’s stock after purchasing an additional 3,751 shares during the quarter. ABN Amro Investment Solutions’ holdings in Targa Resources were worth $4,046,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

TRGP has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $310.00 price objective on shares of Targa Resources in a research report on Tuesday. Stifel Nicolaus set a $268.00 target price on shares of Targa Resources in a report on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Targa Resources in a research report on Thursday, July 2nd. The Goldman Sachs Group increased their price target on shares of Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Scotiabank lifted their price target on Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Seventeen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

Insider Buying and Selling

In related news, Director Charles R. Crisp sold 10,602 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the transaction, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. This represents a 13.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Targa Resources Stock Up 0.2%

NYSE TRGP opened at $284.96 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The company has a fifty day moving average of $269.68 and a two-hundred day moving average of $241.71. The firm has a market capitalization of $61.16 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.45 and a beta of 0.71. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $289.66.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.68 billion. On average, analysts predict that Targa Resources, Inc. will post 10.76 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. Targa Resources’s payout ratio is currently 50.56%.

Targa Resources Profile

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.