New York State Teachers Retirement System Sells 165 Shares of Targa Resources Corp. (NYSE:TRGP)

New York State Teachers Retirement System lowered its position in shares of Targa Resources Corp. (NYSE:TRGP) by 0.1% during the third quarter, HoldingsChannel.com reports. The fund owned 133,028 shares of the pipeline company’s stock after selling 165 shares during the quarter. New York State Teachers Retirement System’s holdings in Targa Resources were worth $19,689,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Targa Resources by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after acquiring an additional 201,817 shares in the last quarter. Caxton Associates LP bought a new stake in Targa Resources in the second quarter valued at $2,323,000. BNP Paribas Financial Markets raised its holdings in shares of Targa Resources by 160.3% during the first quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock valued at $32,486,000 after purchasing an additional 178,655 shares during the period. Sciencast Management LP bought a new position in shares of Targa Resources during the 1st quarter worth about $1,910,000. Finally, Cetera Investment Advisers grew its stake in shares of Targa Resources by 215.2% in the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock valued at $3,478,000 after buying an additional 21,200 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRGP shares. Barclays upped their price target on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group upped their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley lifted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America started coverage on shares of Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $152.79.

Insider Buying and Selling

In other news, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the transaction, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the sale, the director now owns 110,470 shares in the company, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the sale, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,534 shares of company stock valued at $26,815,021. 1.39% of the stock is owned by insiders.

Targa Resources Trading Down 1.0 %

NYSE:TRGP opened at $165.27 on Friday. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $169.92. The firm has a 50-day moving average price of $155.23 and a two-hundred day moving average price of $135.67. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The firm has a market cap of $36.21 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 1.29 and a beta of 2.25.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company posted $1.44 earnings per share. On average, equities analysts expect that Targa Resources Corp. will post 5.96 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, October 31st. Targa Resources’s payout ratio is 63.16%.

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.