Chickasaw Capital Management LLC Trimmed Stake in Targa Resources Corp (TRGP) by $17.99 Million as Shares Rose

September 16, 2018 - By Michael Garrison

Investors sentiment decreased to 1.16 in Q2 2018. Its down 0.17, from 1.33 in 2018Q1. It worsened, 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. Ibm Retirement Fund has 0.04% invested in Targa Resources Corp. (NYSE:TRGP) for 4,081 shares. Botty Investors Ltd Llc reported 5,355 shares or 0.08% of all its holdings. Shell Asset Mgmt holds 0.01% in Targa Resources Corp. (NYSE:TRGP) or 14,065 shares. Ftb Advisors Inc holds 972 shares or 0% of its portfolio. Salient Tru Com Lta holds 0.09% of its portfolio in Targa Resources Corp. (NYSE:TRGP) for 14,836 shares. Utah-based Utah Retirement has invested 0.04% in Targa Resources Corp. (NYSE:TRGP). Fort Washington Inv Advsrs Oh accumulated 340,255 shares. Mitsubishi Ufj & Bk Corp owns 467,981 shares or 0.04% of their US portfolio. Principal Financial Gp owns 2.14M shares. Fiera Cap Corporation owns 0% invested in Targa Resources Corp. (NYSE:TRGP) for 7,669 shares. Stifel has invested 0.01% of its portfolio in Targa Resources Corp. (NYSE:TRGP). Cambridge Invest Advsr Inc holds 0% or 9,490 shares in its portfolio. Architects Inc invested 0% in Targa Resources Corp. (NYSE:TRGP). Jpmorgan Chase And has invested 0% in Targa Resources Corp. (NYSE:TRGP). Sumitomo Mitsui Holdg accumulated 681,271 shares.

Since August 14, 2018, it had 0 insider buys, and 3 sales for $334,513 activity. Another trade for 3,100 shares valued at $167,811 was sold by CRISP CHARLES R.

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 7.76 million 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 1.49M 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 $1.93B and $4.75 billion US Long portfolio, upped its stake in Mplx Lp (NYSE:MPLX) by 451,602 shares to 3.28M shares, valued at $111.92M in 2018Q2, according to the filing. It also increased its holding in Phillips 66 Partners Lp (NYSE:PSXP) by 274,108 shares in the quarter, for a total of 3.21M shares, and has risen its stake in Eqt Gp Holdings Lp.

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: Poised For Strong Performance Due To Permian Growth” on August 30, 2018. Seekingalpha.com‘s article titled: “Targa Resources: Setting Up For A Move Higher” and published on August 24, 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 firm has “Outperform” rating by RBC Capital Markets given on Friday, August 10. The stock has “Buy” rating by Seaport Global on Tuesday, April 24. The firm has “Buy” rating by Stifel Nicolaus given on Friday, May 4. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, August 17. The stock of Targa Resources Corp. (NYSE:TRGP) earned “Equal-Weight” rating by Barclays Capital on Wednesday, August 29. The company was maintained on Tuesday, July 31 by Citigroup. Robert W. Baird maintained the shares of TRGP in report on Monday, April 23 with “Buy” rating. The stock of Targa Resources Corp. (NYSE:TRGP) earned “Equal-Weight” rating by Barclays Capital on Tuesday, June 12. The firm has “Neutral” rating given on Friday, July 27 by Seaport Global. UBS maintained the shares of TRGP in report on Friday, August 10 with “Buy” rating.

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

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