Targa Resources Corp. (NYSE:TRGP) Shares Bought by Mather Group LLC.

Mather Group LLC. raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,026 shares of the pipeline company’s stock after acquiring an additional 68 shares during the quarter. Mather Group LLC.’s holdings in Targa Resources were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRGP. DT Investment Partners LLC acquired a new stake in Targa Resources during the 3rd quarter worth about $29,000. Prospera Private Wealth LLC acquired a new stake in Targa Resources during the 3rd quarter worth about $35,000. Rosenberg Matthew Hamilton raised its holdings in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. UMB Bank n.a. raised its holdings in Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the period. Finally, Huntington National Bank raised its holdings in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after buying an additional 89 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % 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 this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 2.2 %

Shares of NYSE TRGP opened at $204.17 on Thursday. The stock has a market cap of $44.52 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 0.59 and a beta of 2.29. 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 business has a 50 day simple moving average of $193.13 and a 200 day simple moving average of $170.03. Targa Resources Corp. has a 52 week low of $85.41 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, research analysts predict that Targa Resources Corp. will post 6.41 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Targa Resources’s payout ratio is currently 54.25%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their target price on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their target price on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus upped their target price on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $189.21.

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.