Tokio Marine Asset Management Co. Ltd. Makes New Investment in Targa Resources Corp. (NYSE:TRGP)

Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,405 shares of the pipeline company’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Targa Resources by 4.7% in the second quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock valued at $4,188,000 after buying an additional 1,467 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Targa Resources in the second quarter valued at $1,992,000. Park Avenue Securities LLC acquired a new stake in shares of Targa Resources in the third quarter valued at $242,000. Czech National Bank grew its stake in shares of Targa Resources by 5.6% in the third quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock valued at $6,605,000 after buying an additional 2,377 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Targa Resources by 42.5% in the third quarter. GAMMA Investing LLC now owns 3,440 shares of the pipeline company’s stock valued at $509,000 after buying an additional 1,026 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TRGP shares. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group boosted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Stifel Nicolaus boosted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Barclays boosted their target price on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $189.21.

Insiders Place Their Bets

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $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. 1.44% of the stock is owned by insiders.

Targa Resources Stock Down 0.9 %

Targa Resources stock opened at $199.90 on Wednesday. Targa Resources Corp. has a fifty-two week low of $84.43 and a fifty-two week high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $43.59 billion, a P/E ratio of 36.15, a PEG ratio of 0.59 and a beta of 2.29. The stock has a 50-day simple moving average of $193.20 and a 200-day simple moving average of $169.58.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $0.97 EPS. Equities research analysts expect that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.50%. Targa Resources’s payout ratio is 54.25%.

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.