Aster Capital Management DIFC Ltd Makes New $740,000 Investment in Targa Resources Corp. (NYSE:TRGP)

Aster Capital Management DIFC Ltd acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,143 shares of the pipeline company's stock, valued at approximately $740,000.

Several other institutional investors have also added to or reduced their stakes in TRGP. Coldstream Capital Management Inc. raised its stake in shares of Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after purchasing an additional 66 shares during the period. Fisher Asset Management LLC raised its position in Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. lifted its stake in Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after acquiring an additional 68 shares in the last quarter. Keybank National Association OH lifted its stake in Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after acquiring an additional 70 shares in the last quarter. Finally, Huntington National Bank boosted its position in Targa Resources by 16.5% during the 4th quarter. Huntington National Bank now owns 557 shares of the pipeline company's stock worth $99,000 after acquiring an additional 79 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley boosted their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Scotiabank cut their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Barclays lowered their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Targa Resources has a consensus rating of "Buy" and an average target price of $210.64.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded down $0.17 on Friday, hitting $162.26. The company had a trading volume of 937,779 shares, compared to its average volume of 1,718,018. The stock has a 50 day moving average price of $192.75 and a 200 day moving average price of $186.77. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market cap of $35.31 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, April 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.30%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. The trade was a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 in the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

About Targa Resources

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.