Nomura Asset Management Co. Ltd. Buys 11,813 Shares of Targa Resources, Inc. $TRGP

Nomura Asset Management Co. Ltd. raised its stake in Targa Resources, Inc. (NYSE:TRGP) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,094 shares of the pipeline company’s stock after buying an additional 11,813 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Targa Resources were worth $17,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. GQG Partners LLC boosted its holdings in shares of Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock valued at $724,560,000 after purchasing an additional 1,410,747 shares during the period. Nuveen LLC bought a new stake in Targa Resources during the 1st quarter valued at $196,351,000. Wellington Management Group LLP lifted its holdings in shares of Targa Resources by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock worth $2,764,673,000 after buying an additional 962,631 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Targa Resources by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock worth $551,033,000 after buying an additional 834,666 shares during the period. Finally, Amundi grew its position in shares of Targa Resources by 33.8% during the 1st quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock worth $493,812,000 after buying an additional 622,096 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Targa Resources

In other news, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the sale, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. This represents a 47.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.34% of the company’s stock.

Targa Resources Stock Performance

TRGP stock opened at $170.17 on Thursday. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $218.51. The firm has a market cap of $36.53 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.91 and a beta of 1.16. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a 50-day simple moving average of $162.22 and a two-hundred day simple moving average of $164.61.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. On average, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 31st. Targa Resources’s payout ratio is currently 53.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRGP shares. The Goldman Sachs Group decreased their price objective on Targa Resources from $189.00 to $188.00 and set a “buy” rating for the company in a report on Thursday, November 13th. BMO Capital Markets boosted their price target on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Stifel Nicolaus set a $213.00 price target on shares of Targa Resources in a research report on Thursday, November 6th. Mizuho dropped their price objective on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Finally, Cfra Research raised shares of Targa Resources to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.21.

Targa Resources Company 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.