Qsemble Capital Management LP Has $479,000 Stock Position in Targa Resources Corp. (NYSE:TRGP)

Qsemble Capital Management LP decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 54.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,235 shares of the pipeline company’s stock after selling 3,935 shares during the period. Qsemble Capital Management LP’s holdings in Targa Resources were worth $479,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TRGP. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources during the 2nd quarter worth $29,000. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth $29,000. UMB Bank n.a. increased its stake in shares of Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth $35,000. Finally, Whittier Trust Co. bought a new stake in shares of Targa Resources during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRGP shares. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Argus raised shares of Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Truist Financial upped their price objective on shares of Targa Resources from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $176.50.

Targa Resources Price Performance

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

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data 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 net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company posted $0.97 EPS. Analysts expect that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Dividend Announcement

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

Insider Activity

In related news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Muraro sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,760 shares of company stock worth $30,026,712. 1.44% of the stock is currently owned by corporate insiders.

About Targa Resources

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.