Burney Co. Has $19.54 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Burney Co. increased its position in Targa Resources Corp. (NYSE:TRGP) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,451 shares of the pipeline company’s stock after buying an additional 176 shares during the period. Burney Co. owned 0.05% of Targa Resources worth $19,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TRGP. DT Investment Partners LLC acquired a new position in Targa Resources in the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Targa Resources in the second quarter valued at about $29,000. Prospera Private Wealth LLC bought a new position in shares of Targa Resources in the third quarter worth about $35,000. Rosenberg Matthew Hamilton lifted its position in shares of 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 purchasing an additional 89 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Targa Resources by 22.9% during the third 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 last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction 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 sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. 1.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their price target on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays raised their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday. 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 research note on Monday, November 11th. Finally, Stifel Nicolaus lifted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. 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 company currently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $203.75 on Wednesday. The company has a market capitalization of $44.43 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 0.73 and a beta of 2.30. The firm’s 50 day simple moving average is $190.21 and its 200 day simple moving average is $162.26. 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 $81.03 and a fifty-two week high of $209.87.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data 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 return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.97 EPS. As a group, sell-side analysts forecast that Targa Resources Corp. will post 6.26 earnings per share for the current year.

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.