Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,518 shares of the pipeline company’s stock after acquiring an additional 8,700 shares during the period. Natixis Advisors LLC’s holdings in Targa Resources were worth $9,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of 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 worth $2,235,927,000 after buying an additional 633,589 shares in the last quarter. Geode Capital Management LLC grew its holdings in Targa Resources by 1.7% in the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after purchasing an additional 97,583 shares during the period. Amundi grew its holdings in Targa Resources by 20.9% in the fourth quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock valued at $353,469,000 after purchasing an additional 318,261 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Targa Resources by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock valued at $261,344,000 after purchasing an additional 38,723 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Targa Resources by 1.1% in the third 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 purchasing an additional 14,287 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRGP. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup lifted their price target on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday. Scotiabank reduced their price target on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $210.50.

Targa Resources Trading Up 0.3 %

TRGP opened at $199.61 on Friday. The stock has a market capitalization of $43.54 billion, a PE ratio of 34.77, a P/E/G ratio of 0.61 and a beta of 2.32. The firm’s fifty day moving average price is $199.70 and its 200 day moving average price is $182.53. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 12-month low of $109.13 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. As a group, research analysts expect that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.50%. Targa Resources’s dividend payout ratio is presently 52.26%.

Insider Activity at Targa Resources

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now owns 2,899 shares of the company’s stock, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.

Targa Resources 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.