Achmea Investment Management B.V. Grows Stock Position in Targa Resources Corp. (NYSE:TRGP)

Achmea Investment Management B.V. raised its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 186.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 85,894 shares of the pipeline company’s stock after buying an additional 55,913 shares during the period. Achmea Investment Management B.V.’s holdings in Targa Resources were worth $15,332,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRGP. Crossmark Global Holdings Inc. raised its stake in shares of Targa Resources by 3.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,920 shares of the pipeline company’s stock valued at $1,616,000 after buying an additional 344 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Targa Resources during the 3rd quarter valued at about $159,000. Venturi Wealth Management LLC raised its stake in shares of Targa Resources by 36.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 532 shares of the pipeline company’s stock valued at $79,000 after buying an additional 141 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Targa Resources by 9.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,163 shares of the pipeline company’s stock valued at $76,693,000 after buying an additional 45,590 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was 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. This represents a 43.03 % decrease in their ownership of the stock. 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 35,000 shares of the company’s stock in a transaction on 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 in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 over the last ninety days. Corporate insiders own 1.44% of the company’s stock.

Targa Resources Trading Up 3.3 %

TRGP opened at $187.14 on Thursday. Targa Resources Corp. has a one year low of $104.89 and a one year high of $218.51. The stock has a market capitalization of $40.82 billion, a PE ratio of 32.60, a P/E/G ratio of 0.61 and a beta of 2.32. The business’s 50 day moving average price is $199.00 and its 200 day moving average price is $180.77. 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 released its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. As a group, equities research analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 52.26%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TRGP. UBS Group lifted their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Scotiabank cut their price target on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given 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 $206.43.

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.