Targa Resources Corp (TRGP): Insiders Aren’t Crazy About It

Page 1 of 2

Is Targa Resources Corp (NYSE:TRGP) the right pick for your portfolio? Hedge funds are turning bullish. The number of long hedge fund bets inched up by 1 recently.

In the financial world, there are tons of gauges market participants can use to analyze the equity markets. A couple of the best are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top fund managers can outclass the market by a significant margin (see just how much).

Just as integral, bullish insider trading sentiment is another way to break down the stock market universe. Just as you’d expect, there are many motivations for an executive to cut shares of his or her company, but just one, very clear reason why they would buy. Plenty of empirical studies have demonstrated the useful potential of this strategy if you know what to do (learn more here).

With all of this in mind, it’s important to take a peek at the key action regarding Targa Resources Corp (NYSE:TRGP).

How have hedgies been trading Targa Resources Corp (NYSE:TRGP)?

In preparation for this quarter, a total of 13 of the hedge funds we track were bullish in this stock, a change of 8% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings substantially.

Targa Resources Corp (NYSE:TRGP)According to our comprehensive database, Carlson Capital, managed by Clint Carlson, holds the biggest position in Targa Resources Corp (NYSE:TRGP). Carlson Capital has a $38.9 million position in the stock, comprising 0.5% of its 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $38.6 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining peers with similar optimism include Israel Englander’s Millennium Management, Richard Driehaus’s Driehaus Capital and John Overdeck and David Siegel’s Two Sigma Advisors.

With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Driehaus Capital, managed by Richard Driehaus, established the most valuable position in Targa Resources Corp (NYSE:TRGP). Driehaus Capital had 11.8 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $5.4 million investment in the stock during the quarter. The other funds with brand new TRGP positions are D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.

What have insiders been doing with Targa Resources Corp (NYSE:TRGP)?

Insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has seen transactions within the past 180 days. Over the latest half-year time frame, Targa Resources Corp (NYSE:TRGP) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to Targa Resources Corp (NYSE:TRGP). These stocks are Atlas Energy LP (NYSE:ATLS), WGL Holdings Inc (NYSE:WGL), Piedmont Natural Gas Company, Inc. (NYSE:PNY), Suburban Propane Partners LP (NYSE:SPH), and Inergy, L.P. (NYSE:NRGY). All of these stocks are in the gas utilities industry and their market caps are similar to TRGP’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!