Nomura Holdings Inc. Purchases New Holdings in Targa Resources Corp. (NYSE:TRGP)

Nomura Holdings Inc. purchased a new stake in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 7,148 shares of the pipeline company’s stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Blackstone Inc. boosted its holdings in Targa Resources by 60.4% in the fourth quarter. Blackstone Inc. now owns 9,442,728 shares of the pipeline company’s stock valued at $820,290,000 after purchasing an additional 3,554,989 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Targa Resources by 5.1% in the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock valued at $713,107,000 after purchasing an additional 401,144 shares during the last quarter. Deutsche Bank AG boosted its holdings in Targa Resources by 200.4% in the third quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company’s stock valued at $478,063,000 after purchasing an additional 3,720,270 shares during the last quarter. Morgan Stanley boosted its holdings in Targa Resources by 16.1% in the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock valued at $325,003,000 after purchasing an additional 524,794 shares during the last quarter. Finally, FMR LLC boosted its holdings in Targa Resources by 3.2% in the third quarter. FMR LLC now owns 2,431,326 shares of the pipeline company’s stock valued at $208,413,000 after purchasing an additional 74,310 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $120.08, for a total value of $1,200,800.00. Following the sale, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction on Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the transaction, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 7,000 shares of Targa Resources stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total value of $787,780.00. Following the transaction, the director now owns 95,471 shares in the company, valued at $10,744,306.34. The disclosure for this sale can be found here. Insiders have sold a total of 42,691 shares of company stock worth $4,894,563 in the last three months. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Truist Financial increased their target price on Targa Resources from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. UBS Group increased their target price on Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Stifel Nicolaus increased their target price on Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Mizuho increased their target price on Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.58.

Targa Resources Trading Down 1.0 %

Shares of NYSE TRGP opened at $125.10 on Friday. The company has a market cap of $27.74 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.74 and a beta of 2.21. Targa Resources Corp. has a 12-month low of $69.86 and a 12-month high of $129.68. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. The stock’s 50 day simple moving average is $116.48 and its 200 day simple moving average is $102.37.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. Equities research analysts expect that Targa Resources Corp. will post 5.27 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a $0.75 dividend. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, April 29th. Targa Resources’s dividend payout ratio (DPR) is currently 61.73%.

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.