Meeder Advisory Services Inc. Has $710,000 Holdings in Targa Resources Corp. (NYSE:TRGP)

Meeder Advisory Services Inc. trimmed its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,799 shares of the pipeline company’s stock after selling 143 shares during the period. Meeder Advisory Services Inc.’s holdings in Targa Resources were worth $710,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caxton Associates LP acquired a new stake in Targa Resources in the second quarter worth about $2,323,000. Cetera Investment Advisers boosted 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 purchasing an additional 21,200 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Targa Resources by 6.5% during the 1st quarter. California State Teachers Retirement System now owns 444,530 shares of the pipeline company’s stock worth $49,783,000 after buying an additional 27,164 shares during the period. Virtu Financial LLC bought a new stake in shares of Targa Resources during the first quarter worth approximately $1,151,000. Finally, Braun Stacey Associates Inc. acquired a new position in Targa Resources in the third quarter valued at approximately $11,042,000. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Bank of America initiated coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. The Goldman Sachs Group raised their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. UBS Group boosted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley increased 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. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Buy” and an average target price of $169.79.

Targa Resources Stock Performance

TRGP opened at $203.62 on Wednesday. The company has a market capitalization of $44.40 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 0.78 and a beta of 2.24. The business’s 50-day moving average price is $164.61 and its two-hundred day moving average price is $141.76. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $203.67. 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 (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm earned $0.97 EPS. Equities analysts expect that Targa Resources Corp. will post 6.23 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, October 31st. Targa Resources’s payout ratio is 54.25%.

Insider Activity at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,760 shares of company stock valued at $30,026,712. Corporate insiders own 1.44% of the company’s stock.

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.