As Targa Resources Corp (TRGP) Valuation Rose, Chickasaw Capital Management LLC Trimmed Its Position by $17.99 Million

September 16, 2018 - By Palma Niemeyer

Investors sentiment decreased to 1.16 in 2018 Q2. Its down 0.17, from 1.33 in 2018Q1. It dropped, as 36 investors sold TRGP shares while 111 reduced holdings. 45 funds opened positions while 126 raised stakes. 201.41 million shares or 0.59% less from 202.60 million shares in 2018Q1 were reported. Amp Limited has invested 0.02% in Targa Resources Corp. (NYSE:TRGP). Chickasaw Cap Management Ltd Liability Co invested in 7.76 million shares. 264,162 were accumulated by Jpmorgan Chase. Penbrook Mgmt Ltd Liability Company accumulated 15,312 shares. Aviva Public Ltd has 106,213 shares. Nordea Inv Mgmt holds 8,354 shares or 0% of its portfolio. Tci Wealth Advsrs holds 0.01% or 631 shares in its portfolio. Minnesota-based Sit Invest Associate has invested 0% in Targa Resources Corp. (NYSE:TRGP). Salient Trust Lta stated it has 0.09% of its portfolio in Targa Resources Corp. (NYSE:TRGP). Freestone Capital Ltd Liability Corp accumulated 121,791 shares. Kings Point Mgmt, a New York-based fund reported 314 shares. Sandy Spring National Bank & Trust accumulated 0% or 350 shares. X Management Limited Com holds 619,417 shares. Grassi Inv Mngmt owns 27,695 shares. Miller Howard Investments stated it has 352,074 shares.

Since August 14, 2018, it had 0 insider buys, and 3 selling transactions for $334,513 activity. $54,740 worth of Targa Resources Corp. (NYSE:TRGP) was sold by Klein John Richard on Thursday, August 23.

Chickasaw Capital Management Llc decreased its stake in Targa Resources Corp (TRGP) by 4.52% based on its latest 2018Q2 regulatory filing with the SEC. Chickasaw Capital Management Llc sold 367,185 shares as the company’s stock rose 15.94% with the market. The hedge fund held 7.76M shares of the public utilities company at the end of 2018Q2, valued at $384.07 million, down from 8.13 million at the end of the previous reported quarter. Chickasaw Capital Management Llc who had been investing in Targa Resources Corp for a number of months, seems to be less bullish one the $12.44 billion market cap company. The stock decreased 0.70% or $0.39 during the last trading session, reaching $55.13. About 1.49 million shares traded. Targa Resources Corp. (NYSE:TRGP) has risen 19.79% since September 16, 2017 and is uptrending. It has outperformed by 4.17% the S&P500.

Chickasaw Capital Management Llc, which manages about $1.93 billion and $4.75B US Long portfolio, upped its stake in Semgroup Corp Cl A (NYSE:SEMG) by 361,462 shares to 8.92 million shares, valued at $226.57 million in 2018Q2, according to the filing. It also increased its holding in Mplx Lp (NYSE:MPLX) by 451,602 shares in the quarter, for a total of 3.28M shares, and has risen its stake in Enlink Midstream Partners Lp (NYSE:ENLK).

Analysts await Targa Resources Corp. (NYSE:TRGP) to report earnings on November, 2. They expect $0.04 earnings per share, up 126.67 % or $0.19 from last year’s $-0.15 per share. TRGP’s profit will be $9.02M for 344.56 P/E if the $0.04 EPS becomes a reality. After $0.35 actual earnings per share reported by Targa Resources Corp. for the previous quarter, Wall Street now forecasts -88.57 % negative EPS growth.

More news for Targa Resources Corp. (NYSE:TRGP) were recently published by: Seekingalpha.com, which released: “Targa Resources: Setting Up For A Move Higher” on August 24, 2018. Seekingalpha.com‘s article titled: “Targa Resources: Poised For Strong Performance Due To Permian Growth” and published on August 30, 2018 is yet another important article.

Targa Resources Corp. (NYSE:TRGP) Ratings Coverage

Among 11 analysts covering Targa Resources Corp (NYSE:TRGP), 6 have Buy rating, 0 Sell and 5 Hold. Therefore 55% are positive. Targa Resources Corp had 14 analyst reports since April 16, 2018 according to SRatingsIntel. The stock of Targa Resources Corp. (NYSE:TRGP) earned “Equal-Weight” rating by Morgan Stanley on Friday, August 17. UBS maintained the stock with “Buy” rating in Friday, August 10 report. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, August 29 report. Robert W. Baird maintained it with “Buy” rating and $5800 target in Monday, April 23 report. Seaport Global maintained Targa Resources Corp. (NYSE:TRGP) rating on Tuesday, April 24. Seaport Global has “Buy” rating and $5300 target. On Friday, May 4 the stock rating was maintained by Stifel Nicolaus with “Buy”. Seaport Global downgraded Targa Resources Corp. (NYSE:TRGP) rating on Friday, July 27. Seaport Global has “Neutral” rating and $55 target. The stock of Targa Resources Corp. (NYSE:TRGP) earned “Overweight” rating by Barclays Capital on Tuesday, April 17. The stock has “Outperform” rating by RBC Capital Markets on Friday, August 10. As per Tuesday, June 12, the company rating was downgraded by Barclays Capital.

Targa Resources Corp. (NYSE:TRGP) Institutional Positions Chart

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