Mutual of America Capital Management LLC Has $2.59 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Mutual of America Capital Management LLC trimmed its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,838 shares of the pipeline company’s stock after selling 1,467 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Targa Resources were worth $2,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRGP. Moneta Group Investment Advisors LLC grew its holdings in Targa Resources by 104,219.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,241,143 shares of the pipeline company’s stock worth $1,855,224,000 after acquiring an additional 25,216,947 shares during the last quarter. BlackRock Inc. grew its holdings in Targa Resources by 1.9% during the 1st quarter. BlackRock Inc. now owns 18,748,593 shares of the pipeline company’s stock worth $1,367,710,000 after acquiring an additional 348,951 shares during the last quarter. Wellington Management Group LLP grew its holdings in Targa Resources by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock worth $713,107,000 after acquiring an additional 401,144 shares during the last quarter. State Street Corp grew its holdings in Targa Resources by 14.4% during the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company’s stock worth $591,455,000 after acquiring an additional 986,283 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Targa Resources by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,802,014 shares of the pipeline company’s stock worth $513,349,000 after acquiring an additional 421,874 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRGP. Stifel Nicolaus upped their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. Mizuho upped their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Citigroup upped their price objective on shares of Targa Resources from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, UBS Group reduced their price objective on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $117.92.

Targa Resources Stock Up 1.0 %

Shares of NYSE TRGP opened at $112.91 on Friday. The firm has a market cap of $25.13 billion, a PE ratio of 30.77 and a beta of 2.21. Targa Resources Corp. has a 12-month low of $67.36 and a 12-month high of $117.61. The company’s fifty day simple moving average is $105.85 and its 200 day simple moving average is $92.69. 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 (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. As a group, sell-side analysts forecast that Targa Resources Corp. will post 5.77 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.75 per share. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 2.66%. Targa Resources’s dividend payout ratio is presently 54.50%.

Insiders Place Their Bets

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the transaction, the insider now owns 219,451 shares in the company, valued at $21,354,776.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 71,808 shares in the company, valued at $7,012,769.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the completion of the sale, the insider now owns 219,451 shares of the company’s stock, valued at approximately $21,354,776.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,966 shares of company stock worth $7,987,215. Insiders own 1.39% of the company’s stock.

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.