Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Greenleaf Trust

Greenleaf Trust raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,306 shares of the pipeline company’s stock after buying an additional 137 shares during the quarter. Greenleaf Trust’s holdings in Targa Resources were worth $1,126,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Algert Global LLC raised its position in Targa Resources by 123.0% in the second quarter. Algert Global LLC now owns 4,147 shares of the pipeline company’s stock valued at $534,000 after purchasing an additional 2,287 shares during the period. Cetera Investment Advisers increased its position in shares of Targa Resources by 4.7% during the second quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock valued at $4,188,000 after acquiring an additional 1,467 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Targa Resources in the 2nd quarter worth approximately $1,992,000. Park Avenue Securities LLC purchased a new position in shares of Targa Resources during the 3rd quarter worth approximately $242,000. Finally, Czech National Bank increased its holdings in Targa Resources by 5.6% in the 3rd quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock valued at $6,605,000 after purchasing an additional 2,377 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 2.5 %

NYSE:TRGP opened at $201.78 on Tuesday. The company has a market capitalization of $44.00 billion, a PE ratio of 36.49, a P/E/G ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 52-week low of $84.43 and a 52-week high of $218.51. The stock’s 50 day moving average price is $193.19 and its 200 day moving average price is $169.12. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

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. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $0.97 earnings per share. On average, research analysts anticipate that Targa Resources Corp. will post 6.41 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.75 dividend. 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 1.49%. Targa Resources’s dividend payout ratio is presently 54.25%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRGP. Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. 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 research report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $189.21.

Insider Activity

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.44% of the company’s stock.

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.