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

Mather Group LLC. grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,026 shares of the pipeline company’s stock after purchasing an additional 68 shares during the period. Mather Group LLC.’s holdings in Targa Resources were worth $540,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MML Investors Services LLC raised its stake in shares of Targa Resources by 65.1% during the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB increased its stake in shares of Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock worth $5,070,000 after buying an additional 13,167 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Targa Resources in the third quarter worth $11,042,000. Capital Investment Advisors LLC increased its stake in shares of Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in shares of Targa Resources in the fourth quarter worth $271,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling

In related news, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s 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 completion of the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP opened at $204.17 on Thursday. Targa Resources Corp. has a 1 year low of $85.41 and a 1 year high of $218.51. The company has a market cap of $44.52 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth 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 firm has a fifty day moving average of $193.13 and a 200-day moving average of $170.03.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, equities analysts anticipate that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

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

Analyst Ratings Changes

TRGP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target 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. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. 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. The Goldman Sachs Group lifted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $189.21.

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.