Strategy Asset Managers LLC Grows Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Strategy Asset Managers LLC boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,349 shares of the pipeline company’s stock after buying an additional 190 shares during the quarter. Strategy Asset Managers LLC’s holdings in Targa Resources were worth $1,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambridge Financial Group Inc. purchased a new stake in shares of Targa Resources during the 4th quarter worth approximately $7,966,000. Allstate Corp acquired a new stake in shares of Targa Resources during the fourth quarter worth about $1,082,000. DnB Asset Management AS lifted its holdings in shares of Targa Resources by 0.4% in the 4th quarter. DnB Asset Management AS now owns 41,052 shares of the pipeline company’s stock valued at $7,328,000 after purchasing an additional 174 shares during the last quarter. Level Four Advisory Services LLC purchased a new position in shares of Targa Resources during the fourth quarter worth approximately $262,000. Finally, Orion Portfolio Solutions LLC grew its position in Targa Resources by 16.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,819 shares of the pipeline company’s stock worth $1,931,000 after purchasing an additional 1,537 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRGP has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley increased their price target on Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho increased their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Scotiabank reduced their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $211.00.

Insiders Place Their Bets

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the transaction, the insider now 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 dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 over the last three months. 1.39% of the stock is owned by insiders.

Targa Resources Stock Down 0.7 %

Shares of NYSE:TRGP opened at $197.69 on Friday. Targa Resources Corp. has a 12-month low of $110.09 and a 12-month high of $218.51. The stock’s 50-day moving average price is $199.31 and its two-hundred day moving average price is $184.76. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market cap of $43.12 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results 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 return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

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.