Fox Run Management L.L.C. Buys Shares of 5,662 Targa Resources Corp. (NYSE:TRGP)

Fox Run Management L.L.C. bought a new stake in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, HoldingsChannel.com reports. The fund bought 5,662 shares of the pipeline company’s stock, valued at approximately $1,011,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Coldstream Capital Management Inc. boosted its stake in Targa Resources by 0.9% in the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after acquiring an additional 66 shares during the period. Fisher Asset Management LLC boosted its position in shares of Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after buying an additional 67 shares during the period. Mather Group LLC. boosted its position in shares of Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock worth $540,000 after buying an additional 68 shares during the period. Keybank National Association OH boosted its position in shares of Targa Resources by 0.4% during the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock worth $3,470,000 after buying an additional 70 shares during the period. Finally, Catalina Capital Group LLC boosted its position in shares of Targa Resources by 3.9% during the fourth quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock worth $400,000 after buying an additional 85 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Price Performance

NYSE TRGP opened at $197.25 on Friday. The stock has a market capitalization of $43.02 billion, a P/E ratio of 34.36, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51. The business’s fifty day moving average is $199.77 and its two-hundred day moving average is $183.11. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

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 the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 1.52%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 52.26%.

Insider Buying and Selling 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 sale, the insider now directly owns 227,269 shares of the company’s stock, valued at $43,731,100.98. The trade was a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the sale, the chief executive officer now directly owns 725,628 shares in the company, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 in the last three months. 1.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TRGP shares. Barclays boosted their price objective on Targa Resources from $204.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho boosted their price objective on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley boosted their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Royal Bank of Canada boosted their price objective on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company boosted their target price on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $211.00.

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.