Smartleaf Asset Management LLC Has $487,000 Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Smartleaf Asset Management LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 23.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,738 shares of the pipeline company’s stock after purchasing an additional 520 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Targa Resources were worth $487,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after purchasing an additional 633,589 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Targa Resources by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock worth $843,680,000 after purchasing an additional 97,583 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Targa Resources by 1.1% during the 3rd 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 worth $197,076,000 after purchasing an additional 14,287 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Targa Resources by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock worth $186,139,000 after purchasing an additional 96,268 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock worth $153,124,000 after purchasing an additional 168,602 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

TRGP has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Mizuho raised their target price on shares of 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 raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada raised their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup raised their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $207.00.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $195.49 on Tuesday. 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 fifty-two week low of $99.04 and a fifty-two week high of $218.51. The firm has a fifty day moving average price of $198.29 and a two-hundred day moving average price of $179.02. The company has a market cap of $42.64 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29.

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

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s payout ratio is 52.26%.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The shares were 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 in the company, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company’s stock.

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.