B. Metzler seel. Sohn & Co. Holding AG Invests $1.18 Million in Targa Resources Corp. (NYSE:TRGP)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,941 shares of the pipeline company’s stock, valued at approximately $1,175,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRGP. Zurich Insurance Group Ltd FI purchased a new position in shares of Targa Resources during the 2nd quarter worth $72,345,000. American Century Companies Inc. lifted its position in Targa Resources by 239.1% during the second quarter. American Century Companies Inc. now owns 791,095 shares of the pipeline company’s stock worth $101,877,000 after buying an additional 557,832 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Targa Resources by 26.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,721 shares of the pipeline company’s stock worth $194,720,000 after buying an additional 360,675 shares during the period. Dimensional Fund Advisors LP boosted its stake in Targa Resources by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock worth $296,647,000 after buying an additional 271,444 shares during the last quarter. Finally, Blackstone Inc. increased its stake in shares of Targa Resources by 2.7% during the 1st quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after acquiring an additional 252,729 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price on the stock. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays upped their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Royal Bank of Canada boosted their price target on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $176.50.

Targa Resources Trading Down 0.2 %

TRGP opened at $207.34 on Friday. The firm has a market capitalization of $45.21 billion, a P/E ratio of 37.49, a P/E/G ratio of 0.81 and a beta of 2.24. The firm’s 50 day moving average is $168.18 and its 200-day moving average is $143.27. 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 Corp. has a 52-week low of $81.03 and a 52-week high of $209.87.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for 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 firm posted $0.97 EPS. Analysts expect that Targa Resources Corp. will post 6.23 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Insiders Place Their Bets

In related news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares in the company, valued at approximately $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the sale, the director now directly owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. This represents a 57.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock worth $30,026,712 in the last three months. 1.39% of the stock is owned by insiders.

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.