Vinva Investment Management Ltd Buys Shares of 9,360 Targa Resources Corp. (NYSE:TRGP)

Vinva Investment Management Ltd bought a new position in Targa Resources Corp. (NYSE:TRGP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,360 shares of the pipeline company’s stock, valued at approximately $1,374,000.

Several other institutional investors have also added to or reduced their stakes in TRGP. Jacobs Levy Equity Management Inc. increased its stake in Targa Resources by 54.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 7,574 shares of the pipeline company’s stock worth $848,000 after buying an additional 2,664 shares in the last quarter. Tidal Investments LLC grew its stake in Targa Resources by 8.0% during the first quarter. Tidal Investments LLC now owns 10,117 shares of the pipeline company’s stock valued at $1,133,000 after acquiring an additional 751 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Targa Resources by 215.2% in the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock worth $3,478,000 after purchasing an additional 21,200 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Targa Resources by 166.9% in the first quarter. Cetera Advisors LLC now owns 6,453 shares of the pipeline company’s stock worth $723,000 after buying an additional 4,035 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Targa Resources by 21.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 62,744 shares of the pipeline company’s stock valued at $6,927,000 after buying an additional 11,098 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Up 1.4 %

Shares of Targa Resources stock opened at $204.30 on Friday. 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 1 year low of $81.03 and a 1 year high of $209.87. The business has a 50 day moving average price of $174.40 and a 200 day moving average price of $147.03. The company has a market capitalization of $44.55 billion, a P/E ratio of 36.94, a P/E/G ratio of 0.79 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $0.97 EPS. Sell-side analysts anticipate that Targa Resources Corp. will post 6.28 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Wall Street Analyst Weigh In

TRGP has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Barclays raised their price target on Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $176.50.

Insider Transactions at Targa Resources

In related news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now owns 174,451 shares in the company, valued at $25,504,736.20. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,760 shares of company stock worth $30,026,712. 1.39% of the stock is currently owned by company 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.