Targa Resources, Inc. (NYSE:TRGP) is expected to pay $0.91 on Nov 15, 2016. The indicated annual dividend is $3.64. Shareholders owning the stock before Oct 31, 2016 will be eligible to receive the payout. Based on Targa Resources, Inc.’s current price of $45.70, the dividend is 1.99%. This dividend’s record date is Nov 2, 2016 and the announcement date is Oct 20, 2016. The stock decreased 1.97% or $0.92 on October 28, hitting $45.7. Targa Resources Corp (NYSE:TRGP) has risen 61.83% since March 29, 2016 and is uptrending. It has outperformed by 58.35% the S&P500.
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 $7.46 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 143.85 P/E ratio. The Partnership operates in two divisions: Gathering and Processing, and Logistics and Marketing.
Insitutional Activity: The institutional sentiment decreased to 1.34 in Q2 2016. Its down 1.98, from 3.32 in 2016Q1. The ratio dived, 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.
Meeder Asset Mgmt accumulated 0.08% or 19,859 shares. Checchi Advisers Llc last reported 1,418 shares in the company. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys last reported 0.59% of its portfolio in the stock. Usca Ria Limited Liability Corporation has invested 0.05% of its portfolio in Targa Resources Corp (NYSE:TRGP). Cibc Asset Management holds 0% or 5,294 shares in its portfolio. Susquehanna Group Incorporated Llp has 0% invested in the company for 137,021 shares. Architects reported 155 shares or 0% of all its holdings. Hodges reported 6,550 shares or 0.01% of all its holdings. Geode Cap Management Ltd accumulated 0.02% or 1.03 million shares. Invesco Limited holds 587,676 shares or 0.01% of its portfolio. Los Angeles Capital & Equity last reported 0.01% of its portfolio in the stock. Voya Investment Mngmt Ltd Limited Liability Company accumulated 176,822 shares or 0.02% of the stock. Blackrock Fund Advsr holds 1.95M shares or 0.02% of its portfolio. Moreover, Bollard Grp Ltd has 0.01% invested in Targa Resources Corp (NYSE:TRGP) for 2,418 shares. Moreover, Central State Bank Trust Co has 0% invested in Targa Resources Corp (NYSE:TRGP) for 170 shares.
Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 15 selling transactions for $9.27 million net activity. $450,362 worth of Targa Resources Corp (NYSE:TRGP) was sold by Perkins Joe Bob. $282,450 worth of shares were sold by Pryor D. Scott on Wednesday, July 27. 75,091 shares with value of $3.14M were sold by JOYCE RENE R on Thursday, May 12. On Monday, June 13 the insider WHALEN JAMES W sold $1.00M. On Monday, October 10 McParland Jeffrey J sold $90,157 worth of the stock or 1,800 shares. Shares for $867,161 were sold by Chung Paul W on Thursday, May 12.
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 firm earned “Outperform” rating on Wednesday, August 5 by RBC Capital Markets. Stifel Nicolaus maintained Targa Resources Corp (NYSE:TRGP) on Monday, August 22 with “Buy” rating. The stock has “Neutral” rating given by Credit Suisse on Friday, February 26. As per Friday, December 18, the company rating was upgraded by Jefferies. Barclays Capital initiated Targa Resources Corp (NYSE:TRGP) rating on Wednesday, March 23. Barclays Capital has “Equal-Weight” rating and $33 price target. RBC Capital Markets maintained the shares of TRGP in a report on Wednesday, November 4 with “Outperform” rating. Citigroup maintained the stock with “Buy” rating in Tuesday, April 19 report. The firm earned “Buy” rating on Tuesday, March 22 by Jefferies. Stifel Nicolaus upgraded Targa Resources Corp (NYSE:TRGP) on Thursday, August 4 to “Buy” rating. The company was upgraded on Tuesday, September 27 by Barclays Capital.
More notable recent Targa Resources Corp (NYSE:TRGP) news were published by: Forbes.com which released: “Reminder – Targa Resources (TRGP) Goes Ex-Dividend Soon” on October 27, 2016, also Wsj.com with their article: “Targa Resources Corp. to Buy Targa Resources Partners” published on November 03, 2015, Fool.com published: “Targa Resources Corp Is Running Out of Room to Grow… What’s Next?” on September 26, 2016. More interesting news about Targa Resources Corp (NYSE:TRGP) were released by: Fool.com and their article: “Here’s Why Shares of Targa Resources Corp. Surged 25.8% in February” published on March 05, 2016 as well as Moodys.com‘s news article titled: “Moody’s downgrades Targa Resources Partners to Ba2” with publication date: March 29, 2016.
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.
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