Keybank National Association OH Boosts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Keybank National Association OH grew its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 19,440 shares of the pipeline company’s stock after buying an additional 70 shares during the period. Keybank National Association OH’s holdings in Targa Resources were worth $3,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Aspect Partners LLC raised its position in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after buying an additional 130 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources in the third quarter worth $35,000. Rosenberg Matthew Hamilton raised its position in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth $49,000. Finally, UMB Bank n.a. raised its position in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 1.8 %

Shares of NYSE:TRGP opened at $186.67 on Thursday. The stock’s 50-day moving average price is $198.60 and its 200-day moving average price is $179.41. Targa Resources Corp. has a 12-month low of $103.04 and a 12-month high of $218.51. The stock has a market capitalization of $40.71 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. On average, equities analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.61%. Targa Resources’s payout ratio is presently 52.26%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays increased their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their target price on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, UBS Group increased their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $207.00.

Insider Buying and Selling

In related news, insider D. Scott Pryor sold 35,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares of the company’s stock, valued at $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. 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. 1.39% of the stock is owned by insiders.

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.