Targa Resources Corp. (NYSE:TRGP) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,954 shares of the pipeline company’s stock after acquiring an additional 1,708 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Targa Resources were worth $5,168,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. MML Investors Services LLC boosted its holdings in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after purchasing an additional 10,100 shares during the last quarter. Nordea Investment Management AB lifted its position in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after buying an additional 13,167 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of Targa Resources in the fourth quarter worth $271,000. Finally, Segment Wealth Management LLC raised its stake in shares of Targa Resources by 2,753.4% in the 4th quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company’s stock valued at $9,876,000 after acquiring an additional 53,389 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Trading Up 1.4 %

Shares of NYSE:TRGP opened at $205.86 on Thursday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock’s 50-day moving average is $198.61 and its 200-day moving average is $186.23. The company has a market cap of $44.90 billion, a P/E ratio of 35.86, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week high of $218.51.

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

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is 52.26%.

Analysts Set New Price Targets

Several research firms recently commented on TRGP. Citigroup boosted their price target on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company boosted their price target on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Scotiabank dropped their price objective on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. 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. Finally, Royal Bank of Canada lifted their price target on shares of Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $211.00.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction that occurred 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 directly owns 2,899 shares in the company, valued at $568,957.74. This represents a 43.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. The trade was 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 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.