DekaBank Deutsche Girozentrale Has $4.44 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

DekaBank Deutsche Girozentrale increased its stake in Targa Resources Corp. (NYSE:TRGP) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,646 shares of the pipeline company’s stock after purchasing an additional 13,315 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Targa Resources were worth $4,440,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. boosted its stake in Targa Resources by 51.3% in the third quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock valued at $31,000 after buying an additional 121 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Targa Resources by 2.1% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,125 shares of the pipeline company’s stock worth $466,000 after purchasing an additional 128 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Targa Resources by 5.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,960 shares of the pipeline company’s stock valued at $225,000 after purchasing an additional 140 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Targa Resources by 4.4% during the third quarter. Ballentine Partners LLC now owns 3,370 shares of the pipeline company’s stock worth $289,000 after buying an additional 142 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Targa Resources by 36.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock worth $48,000 after buying an additional 150 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Targa Resources Trading Up 0.6 %

TRGP opened at $115.33 on Friday. The stock has a market cap of $25.67 billion, a PE ratio of 31.43 and a beta of 2.21. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. Targa Resources Corp. has a twelve month low of $67.36 and a twelve month high of $116.92. The company has a fifty day moving average of $102.65 and a 200-day moving average of $91.53.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. On average, sell-side analysts predict that Targa Resources Corp. will post 5.75 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.73%. Targa Resources’s payout ratio is currently 54.50%.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the completion of the sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Jennifer R. Kneale sold 26,061 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.36, for a total value of $2,537,298.96. Following the completion of the sale, the chief financial officer now directly owns 227,663 shares of the company’s stock, valued at approximately $22,165,269.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the transaction, the chief accounting officer now owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,966 shares of company stock valued at $7,987,215. 1.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TRGP. The Goldman Sachs Group upped their target price on Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Citigroup lifted their target price on shares of Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Mizuho boosted their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Targa Resources has an average rating of “Buy” and an average target price of $115.70.

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.