After Today’s Bullish Options Activity, Is Targa Resources Corp’s Near-Term Analysis Positive?

 After Today's Bullish Options Activity, Is Targa Resources Corp's Near Term Analysis Positive?

In today’s session Targa Resources Corp (TRGP) registered an unusually high (255) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious TRGP increase. With 255 contracts traded and 21104 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: TRGP161021C00045000 closed last at: $2.1 or 43.2% down. About 411,742 shares traded hands. Targa Resources Corp (NYSE:TRGP) has risen 55.72% since March 16, 2016 and is uptrending. It has outperformed by 50.18% the S&P500.

Analysts await Targa Resources Corp (NYSE:TRGP) to report earnings on November, 1. They expect $-0.01 EPS, down 104.35% or $0.24 from last year’s $0.23 per share. After $-0.33 actual EPS reported by Targa Resources Corp for the previous quarter, Wall Street now forecasts -96.97% EPS growth.

Targa Resources Corp (NYSE:TRGP) Ratings Coverage

Out of 12 analysts covering Targa Resources (NYSE:TRGP), 7 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. Targa Resources has been the topic of 31 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, January 4 by Raymond James. The firm earned “Hold” rating on Wednesday, August 31 by Wunderlich. The firm has “Buy” rating by Stifel Nicolaus given on Monday, August 22. Citigroup reinitiated the stock with “Buy” rating in Monday, March 14 report. Capital One upgraded the stock to “Overweight” rating in Monday, May 2 report. The firm has “Hold” rating given on Friday, February 26 by Wunderlich. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, August 4. The stock of Targa Resources Corp (NYSE:TRGP) earned “Buy” rating by Citigroup on Tuesday, April 19. The company was downgraded on Wednesday, June 8 by Jefferies. The firm has “Hold” rating given on Tuesday, May 31 by Stifel Nicolaus.

According to Zacks Investment Research, “Targa Resources Corp owns general and limited partner interests in Targa Resources Partners LP, engaged in providing midstream natural gas and natural gas liquid services in the United States. The Company operates its business through two business segments: Natural Gas Gathering and Processing and NGL Logistics and Marketing. The Natural Gas Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting natural gas liquids and removing impurities. NGL Logistics and Marketing segment is engaged in gathering and storing; fractionating, storing, and transporting of finished NGLs. Targa also markets the natural gas liquids produced and purchased in selected United States markets. The Company also offers refinery services and wholesale propane marketing operations. Targa Resources Corp is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.34 in Q2 2016. Its down 1.98, from 3.32 in 2016Q1. The ratio turned negative, as 43 funds sold all Targa Resources Corp shares owned while 87 reduced positions. 67 funds bought stakes while 107 increased positions. They now own 131.44 million shares or 48.28% less from 254.13 million shares in 2016Q1.
Utah Retirement, a Utah-based fund reported 28,400 shares. West Family Invs owns 47,178 shares or 0.36% of their US portfolio. Van Eck Associate Corporation holds 1,962 shares or 0% of its portfolio. Cv Starr Co last reported 189,100 shares in the company. Barclays Public Limited Com last reported 256,713 shares in the company. Sandy Spring Natl Bank holds 0.01% or 1,046 shares in its portfolio. Legal & General Grp Plc owns 55,621 shares or 0% of their US portfolio. Bluecrest Cap Mngmt Limited holds 0.02% or 13,247 shares in its portfolio. Heronetta Mngmt L P reported 8,308 shares or 0.19% of all its holdings. Janus Capital Mngmt Limited Com accumulated 6,200 shares or 0% of the stock. Cwm Ltd Co owns 724 shares or 0% of their US portfolio. Us Natl Bank De has 0% invested in the company for 4,631 shares. Freestone Capital Ltd Liability owns 135,024 shares or 0.56% of their US portfolio. Tudor Corporation Et Al has 0.01% invested in the company for 14,394 shares. Bamco Inc Ny accumulated 72,700 shares or 0.02% of the stock.

Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 15 insider sales for $9.27 million net activity. McParland Jeffrey J sold 1,800 shares worth $90,157. On Monday, October 10 the insider Perkins Joe Bob sold $450,362. WHALEN JAMES W also sold $1.00 million worth of Targa Resources Corp (NYSE:TRGP) shares. Shares for $282,450 were sold by Pryor D. Scott on Wednesday, July 27. JOYCE RENE R had sold 75,091 shares worth $3.14M on Thursday, May 12. Chung Paul W had sold 20,640 shares worth $867,161 on Thursday, May 12.

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP , is a well-known provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The company has a market cap of $8.01 billion. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. It has a 150.11 P/E ratio. The Partnership operates in two divisions: Gathering and Processing, and Logistics and Marketing.

TRGP Company Profile

Targa Resources Corp. (Targa) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. The Company’s indirect subsidiary is the sole general partner of Targa Resources Partners LP (the Partnership). The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling natural gas liquids (NGLs), NGL products, refined petroleum products and crude oil. The Firm operates in two divisions: Natural Gas Gathering and Processing. Natural Gas Gathering and Processing, consisting of two divisions: Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing, consisting of two divisions: Logistics Assets and Marketing and Distribution. During the year ended December 31, 2011, the Company projects included Cedar Bayou Fractionator expansion project, North Texas expansion program, SAOU expansion project, Cedar Bayou fractionation expansion, International propane export project, North Texas Longhorn project, Petroleum logistics terminal expansions, Benzene treating project, SAOU/Permian expansion programs, North Texas expansion program, HD-5 Refrigeration Export project and Gulf Coast Fractionators expansion project. On March 15, 2011, the Partnership acquired a refined petroleum products and crude oil storage and terminaling facility in Channelview, Texas on Carpenter’s Bayou along the Houston Ship Channel (the Channelview Terminal). On September 30, 2011 the Partnership acquired refined petroleum products and crude oil storage and terminaling facilities in two separate transactions.

More important recent Targa Resources Corp (NYSE:TRGP) news were published by: Fool.com which released: “Targa Resources Corp Is Running Out of Room to Grow… What’s Next?” on September 26, 2016, also Forbes.com published article titled: “Why Targa Resources Is a Top 10 Energy Dividend Stock (TRGP)”, Fool.com published: “Here’s Why Shares of Targa Resources Corp. Surged 25.8% in February” on March 05, 2016. More interesting news about Targa Resources Corp (NYSE:TRGP) was released by: Moodys.com and their article: “Moody’s downgrades Targa Resources Partners to Ba2” with publication date: March 29, 2016.

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