Banco BTG Pactual S.A. Invests $345,000 in Targa Resources Corp. (NYSE:TRGP)

Banco BTG Pactual S.A. bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,886 shares of the pipeline company’s stock, valued at approximately $345,000.

Several other institutional investors have also bought and sold shares of TRGP. GQG Partners LLC bought a new stake in shares of Targa Resources in the 4th quarter worth $393,335,000. Raymond James Financial Inc. bought a new stake in Targa Resources in the 4th quarter worth about $150,372,000. TD Asset Management Inc. grew its position in Targa Resources by 568.7% in the 4th quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company’s stock worth $173,212,000 after purchasing an additional 825,267 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after buying an additional 633,589 shares in the last quarter. Finally, Amundi boosted its stake in shares of Targa Resources by 20.9% in the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock worth $353,469,000 after buying an additional 318,261 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays lifted their target price on Targa Resources from $204.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada raised their price objective on shares of Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Citigroup lifted their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company increased their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $211.00.

Targa Resources Stock Down 1.8 %

Shares of NYSE TRGP opened at $201.91 on Thursday. 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 has a market cap of $44.04 billion, a P/E ratio of 35.18, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The business has a 50-day simple moving average of $199.95 and a two-hundred day simple moving average of $184.28.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is 52.26%.

Insider Buying and Selling

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. The trade was a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 over the last ninety days. 1.39% of the stock is owned by corporate insiders.

Targa Resources Company Profile

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.