Chicago Partners Investment Group LLC Purchases 30,368 Shares of Targa Resources Corp (TRGP)

Chicago Partners Investment Group LLC raised its position in Targa Resources Corp (NYSE:TRGP) by 61.6% in the 4th quarter, HoldingsChannel reports. The fund owned 79,643 shares of the pipeline company’s stock after purchasing an additional 30,368 shares during the period. Chicago Partners Investment Group LLC’s holdings in Targa Resources were worth $3,411,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Westbourne Investment Advisors Inc. acquired a new stake in Targa Resources in the third quarter valued at approximately $168,000. Checchi Capital Advisers LLC acquired a new stake in Targa Resources during the 3rd quarter worth approximately $208,000. Crossmark Global Holdings Inc. acquired a new stake in Targa Resources during the 3rd quarter worth approximately $212,000. Meiji Yasuda Life Insurance Co acquired a new stake in Targa Resources during the 3rd quarter worth approximately $214,000. Finally, Berman Capital Advisors LLC acquired a new stake in Targa Resources during the 3rd quarter worth approximately $216,000. 93.25% of the stock is owned by institutional investors.

In related news, Director Chris Tong acquired 2,200 shares of the stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $47.00 per share, for a total transaction of $103,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.76% of the company’s stock.

A number of analysts recently issued reports on the stock. Barclays raised shares of Targa Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $65.00 in a research report on Wednesday, October 3rd. Credit Suisse Group initiated coverage on shares of Targa Resources in a report on Thursday, October 11th. They set a “neutral” rating and a $60.00 target price for the company. Raymond James increased their target price on shares of Targa Resources from $58.00 to $64.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded shares of Targa Resources from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Saturday, September 29th. Finally, Stifel Nicolaus increased their target price on shares of Targa Resources from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, October 11th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Targa Resources has a consensus rating of “Buy” and a consensus price target of $58.14.

TRGP traded down $0.72 on Friday, hitting $42.11. The company had a trading volume of 191,036 shares, compared to its average volume of 3,345,186. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.68 and a quick ratio of 0.61. Targa Resources Corp has a 52-week low of $33.55 and a 52-week high of $59.21. The firm has a market capitalization of $10.04 billion, a PE ratio of -97.93 and a beta of 1.91.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, November 8th. The pipeline company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.31). Targa Resources had a return on equity of 1.31% and a net margin of 3.42%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Analysts expect that Targa Resources Corp will post 0.13 EPS for the current fiscal year.

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Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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

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