Daiwa Securities Group Inc. Acquires 10,839 Shares of Targa Resources Corp. (NYSE:TRGP)

Daiwa Securities Group Inc. lifted its holdings in Targa Resources Corp. (NYSE:TRGP) by 28.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 49,562 shares of the pipeline company’s stock after purchasing an additional 10,839 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Targa Resources were worth $8,846,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TRGP. Raymond James Financial Inc. acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $150,372,000. Wellington Management Group LLP lifted its position in Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after acquiring an additional 633,589 shares in the last quarter. Amundi boosted its stake in Targa Resources by 20.9% in the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock worth $353,469,000 after purchasing an additional 318,261 shares during the period. National Bank of Canada FI increased its holdings in Targa Resources by 75.4% during the 3rd quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock worth $89,413,000 after purchasing an additional 259,776 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Targa Resources by 40.0% in the 4th quarter. Allianz Asset Management GmbH now owns 890,514 shares of the pipeline company’s stock valued at $158,957,000 after purchasing an additional 254,286 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Transactions at Targa Resources

In other 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 transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.44% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TRGP shares. The Goldman Sachs Group upped their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. UBS Group boosted their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. 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 report on Monday, March 3rd. Finally, Barclays boosted their price target on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $206.43.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $181.06 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The business’s 50 day moving average price is $198.83 and its two-hundred day moving average price is $180.73. The company has a market cap of $39.49 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a twelve month low of $104.24 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share 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 business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is presently 52.26%.

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.