In today’s session Targa Resources Corp (TRGP) registered an unusually high (552) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious TRGP increase. With 552 contracts traded and 12314 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: TRGP161118C00049000 closed last at: $0.55 or 31.3% down. The stock last traded at $43.9 per share. It is down 50.91% since March 30, 2016 and is uptrending. It has outperformed by 47.90% the S&P500.
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 has “Overweight” rating by Capital One given on Monday, May 2. The firm earned “Hold” rating on Wednesday, August 31 by Wunderlich. Barclays Capital upgraded Targa Resources Corp (NYSE:TRGP) on Tuesday, September 27 to “Overweight” rating. The rating was maintained by Citigroup on Tuesday, April 19 with “Buy”. As per Thursday, August 4, the company rating was upgraded by Stifel Nicolaus. Jefferies maintained Targa Resources Corp (NYSE:TRGP) on Tuesday, March 22 with “Buy” rating. Jefferies upgraded Targa Resources Corp (NYSE:TRGP) on Friday, December 18 to “Hold” rating. Stifel Nicolaus maintained Targa Resources Corp (NYSE:TRGP) on Monday, August 22 with “Buy” rating. The rating was maintained by RBC Capital Markets on Wednesday, November 4 with “Outperform”. The stock has “Neutral” rating given by Credit Suisse on Friday, February 26.
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 2016 Q2. Its down 1.98, from 3.32 in 2016Q1. The ratio is 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.
Moreover, Springbok Cap Mngmt Lc has 0.27% invested in Targa Resources Corp (NYSE:TRGP) for 45,317 shares. Pacad Investment Limited holds 0.07% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 12,600 shares. Legal General Group Public Ltd holds 0% or 55,621 shares in its portfolio. Moreover, Yorkville Capital Mgmt has 4.63% invested in Targa Resources Corp (NYSE:TRGP) for 103,114 shares. Thompson Davis & last reported 0.01% of its portfolio in the stock. Proshare Advisors Ltd has invested 0.01% of its portfolio in Targa Resources Corp (NYSE:TRGP). Gilman Hill Asset Ltd Liability Com has 201,044 shares for 3.47% of their US portfolio. Victory Capital reported 42,008 shares or 0.01% of all its holdings. Marshall Wace Llp holds 12,802 shares or 0% of its portfolio. Rr Advsrs Ltd Liability Corp holds 1.6% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 254,000 shares. Blackrock Inv Mgmt Ltd Liability Co has 80,111 shares for 0% of their US portfolio. Vanguard Grp Inc Inc owns 11.50 million shares or 0.03% of their US portfolio. Moreover, Ladenburg Thalmann Financial Ser has 0.01% invested in Targa Resources Corp (NYSE:TRGP) for 14,079 shares. Bard Assocs holds 0.95% or 42,493 shares in its portfolio. California State Teachers Retirement holds 0.03% or 339,854 shares in its portfolio.
Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 15 selling transactions for $9.27 million net activity. $282,450 worth of Targa Resources Corp (NYSE:TRGP) shares were sold by Pryor D. Scott. 1,000 shares were sold by McParland Jeffrey J, worth $50,338 on Thursday, September 22. WHALEN JAMES W had sold 25,000 shares worth $1.00M. Chung Paul W also sold $867,161 worth of Targa Resources Corp (NYSE:TRGP) on Thursday, May 12. 1,405 shares were sold by Perkins Joe Bob, worth $70,292. JOYCE RENE R sold $3.14 million worth of Targa Resources Corp (NYSE:TRGP) 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 $7.03 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 138.18 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 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 Fool.com with their article: “Targa Resources Corp Is Running Out of Room to Grow… What’s Next?” published on September 26, 2016, 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) were released by: Moodys.com and their article: “Moody’s downgrades Targa Resources Partners to Ba2” published on March 29, 2016 as well as Forbes.com‘s news article titled: “Why Targa Resources Is a Top 10 Energy Dividend Stock (TRGP)” with publication date: July 21, 2016.