Targa Resources Corp. (NYSE:TRGP) Shares Bought by Signaturefd LLC

Signaturefd LLC raised its position in Targa Resources Corp. (NYSE:TRGP) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,776 shares of the pipeline company’s stock after acquiring an additional 368 shares during the quarter. Signaturefd LLC’s holdings in Targa Resources were worth $502,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. VisionPoint Advisory Group LLC grew its position in shares of Targa Resources by 111.2% during the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after buying an additional 209 shares in the last quarter. Rational Advisors LLC acquired a new position in shares of Targa Resources during the third quarter worth about $43,000. Huntington National Bank grew its position in shares of Targa Resources by 124.4% during the third quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock worth $46,000 after buying an additional 296 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Targa Resources by 36.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock worth $48,000 after buying an additional 150 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Targa Resources by 77.5% during the third quarter. EverSource Wealth Advisors LLC now owns 850 shares of the pipeline company’s stock worth $73,000 after buying an additional 371 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

Targa Resources stock opened at $116.94 on Thursday. Targa Resources Corp. has a 12 month low of $67.36 and a 12 month high of $117.61. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The business has a 50 day simple moving average of $107.48 and a 200-day simple moving average of $93.51. The stock has a market capitalization of $26.02 billion, a PE ratio of 31.86 and a beta of 2.21.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Equities analysts predict that Targa Resources Corp. will post 5.77 earnings per share for the current year.

Targa Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, April 29th. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio is 54.50%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TRGP shares. Mizuho boosted their price objective on Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus boosted their target price on Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada boosted their target price on Targa Resources from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. boosted their target price on Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group boosted their target price on Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.55.

Insider Transactions at Targa Resources

In related news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $97.31, for a total transaction of $973,100.00. Following the transaction, the insider now owns 219,451 shares of the company’s stock, valued at $21,354,776.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $97.31, for a total transaction of $973,100.00. Following the transaction, the insider now owns 219,451 shares of the company’s stock, valued at $21,354,776.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Insiders sold 81,966 shares of company stock worth $7,987,215 over the last 90 days. 1.39% of the stock is currently owned by insiders.

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.