Teachers Retirement System of The State of Kentucky Grows Holdings in Targa Resources Corp. (NYSE:TRGP)

Teachers Retirement System of The State of Kentucky grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,800 shares of the pipeline company’s stock after buying an additional 1,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Targa Resources were worth $1,565,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of TRGP. Vanguard Group Inc. lifted its holdings in shares of Targa Resources by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 23,969,133 shares of the pipeline company’s stock worth $1,065,428,000 after acquiring an additional 462,819 shares during the period. BlackRock Inc. lifted its holdings in shares of Targa Resources by 60.4% during the 2nd quarter. BlackRock Inc. now owns 20,881,528 shares of the pipeline company’s stock worth $928,186,000 after acquiring an additional 7,866,473 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Targa Resources by 1.3% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 9,801,506 shares of the pipeline company’s stock worth $482,332,000 after acquiring an additional 126,968 shares during the period. State Street Corp raised its holdings in Targa Resources by 69.2% in the second quarter. State Street Corp now owns 7,139,511 shares of the pipeline company’s stock valued at $317,351,000 after buying an additional 2,920,776 shares during the period. Finally, Jennison Associates LLC raised its holdings in Targa Resources by 24.8% in the second quarter. Jennison Associates LLC now owns 4,530,254 shares of the pipeline company’s stock valued at $201,370,000 after buying an additional 899,702 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $57.06, for a total transaction of $142,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rene R. Joyce sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $57.33, for a total value of $1,146,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,896 shares of company stock valued at $2,868,130. Corporate insiders own 1.69% of the company’s stock.

TRGP has been the topic of several research reports. Citigroup raised their price target on shares of Targa Resources from $66.00 to $67.00 in a report on Monday, January 10th. Raymond James raised their price target on shares of Targa Resources from $65.00 to $67.00 and gave the company a “strong-buy” rating in a report on Friday, November 5th. Bank of America initiated coverage on shares of Targa Resources in a report on Tuesday, September 28th. They issued a “buy” rating on the stock. Mizuho raised their price target on shares of Targa Resources from $47.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, October 27th. Finally, Credit Suisse Group raised their price target on shares of Targa Resources from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, November 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $55.44.

TRGP stock opened at $57.78 on Friday. Targa Resources Corp. has a twelve month low of $26.65 and a twelve month high of $58.18. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $13.23 billion, a P/E ratio of 44.45 and a beta of 2.87. The firm has a 50 day simple moving average of $53.44 and a 200-day simple moving average of $49.14.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, November 4th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.25. Targa Resources had a return on equity of 7.53% and a net margin of 2.97%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $3.61 billion. On average, research analysts predict that Targa Resources Corp. will post 1.84 EPS for the current year.

Targa Resources Company Profile

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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