Targa Resources Corp. (NYSE:TRGP) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in Targa Resources Corp. (NYSE:TRGP) by 51.1% in the third quarter, HoldingsChannel reports. The fund owned 14,106 shares of the pipeline company’s stock after acquiring an additional 4,769 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Targa Resources were worth $2,087,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BOKF NA raised its position in shares of Targa Resources by 301.5% during the 1st quarter. BOKF NA now owns 819 shares of the pipeline company’s stock worth $92,000 after purchasing an additional 615 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Targa Resources by 7.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 20,996 shares of the pipeline company’s stock worth $2,351,000 after purchasing an additional 1,423 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Targa Resources by 54.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 7,574 shares of the pipeline company’s stock worth $848,000 after purchasing an additional 2,664 shares during the last quarter. Tidal Investments LLC raised its position in shares of Targa Resources by 8.0% during the 1st quarter. Tidal Investments LLC now owns 10,117 shares of the pipeline company’s stock worth $1,133,000 after purchasing an additional 751 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Targa Resources during the 1st quarter worth about $1,151,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,760 shares of company stock worth $30,026,712. 1.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

TRGP has been the subject of several research reports. Bank of America initiated coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Barclays upped their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company upped their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has a consensus rating of “Buy” and an average target price of $176.50.

Targa Resources Stock Performance

Targa Resources stock opened at $201.39 on Thursday. The firm has a 50 day simple moving average of $172.39 and a 200-day simple moving average of $146.01. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $209.87. The stock has a market cap of $43.92 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business posted $0.97 EPS. On average, analysts expect that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Targa Resources’s dividend payout ratio is currently 54.25%.

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.