Ninety One UK Ltd Has $16.90 Million Position in Targa Resources Corp. (NYSE:TRGP)

Ninety One UK Ltd increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 27.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 94,682 shares of the pipeline company’s stock after purchasing an additional 20,222 shares during the quarter. Ninety One UK Ltd’s holdings in Targa Resources were worth $16,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TRGP. Wellington Management Group LLP raised its position in Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after purchasing an additional 633,589 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Targa Resources by 1.7% during the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock worth $843,680,000 after buying an additional 97,583 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Targa Resources by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after acquiring an additional 14,287 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Targa Resources by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after acquiring an additional 96,268 shares during the period. Finally, Barclays PLC lifted its position in shares of Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock valued at $153,124,000 after acquiring an additional 168,602 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TRGP. Wells Fargo & Company lifted their price target on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus increased their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. UBS Group increased their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources has an average rating of “Buy” and an average price target of $189.21.

Insider Buying and Selling

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

Targa Resources Stock Up 2.2 %

Shares of TRGP stock opened at $204.17 on Thursday. The stock has a market cap of $44.52 billion, a P/E ratio of 36.92, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 52 week low of $85.41 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company’s fifty day simple moving average is $193.13 and its two-hundred day simple moving average is $170.03.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the previous year, the company earned $0.97 EPS. Analysts predict that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.