Venturi Wealth Management LLC Sells 315 Shares of Targa Resources, Inc. $TRGP

Venturi Wealth Management LLC decreased its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 30.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 715 shares of the pipeline company’s stock after selling 315 shares during the quarter. Venturi Wealth Management LLC’s holdings in Targa Resources were worth $124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRGP. GQG Partners LLC boosted its position in shares of Targa Resources by 64.0% during the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock worth $724,560,000 after acquiring an additional 1,410,747 shares during the last quarter. Nuveen LLC bought a new position in shares of Targa Resources during the first quarter worth $196,351,000. Wellington Management Group LLP boosted its position in shares of Targa Resources by 7.5% during the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock worth $2,764,673,000 after acquiring an additional 962,631 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Targa Resources by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock worth $551,033,000 after acquiring an additional 834,666 shares during the last quarter. Finally, Amundi boosted its position in shares of Targa Resources by 33.8% during the first quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock worth $493,812,000 after acquiring an additional 622,096 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TRGP shares. TD Securities started coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a “hold” rating on the stock. Mizuho decreased their price target on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Cfra Research raised shares of Targa Resources to a “hold” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Barclays upped their price target on shares of Targa Resources from $178.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Targa Resources has an average rating of “Moderate Buy” and an average target price of $207.67.

Targa Resources Price Performance

Targa Resources stock opened at $152.43 on Friday. The firm has a 50-day moving average price of $165.04 and a 200-day moving average price of $167.75. The firm has a market capitalization of $32.80 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12-month low of $150.00 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.92. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, equities research analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

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.