Aigen Investment Management LP Buys 9,027 Shares of Targa Resources Corp. (NYSE:TRGP)

Aigen Investment Management LP raised its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 253.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,592 shares of the pipeline company's stock after acquiring an additional 9,027 shares during the period. Aigen Investment Management LP's holdings in Targa Resources were worth $2,248,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its position in Targa Resources by 0.9% in the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after buying an additional 66 shares in the last quarter. Fisher Asset Management LLC grew its position in Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after acquiring an additional 67 shares during the last quarter. Mather Group LLC. raised its position in Targa Resources by 2.3% in the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after purchasing an additional 68 shares during the last quarter. Keybank National Association OH increased its position in Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after purchasing an additional 70 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock worth $321,000 after purchasing an additional 84 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TRGP. Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a report on Monday. US Capital Advisors downgraded Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Mizuho increased their price target on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Citigroup increased their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources has a consensus rating of "Buy" and an average price target of $207.00.

Targa Resources Stock Down 2.8 %

Shares of NYSE:TRGP opened at $190.20 on Wednesday. The stock has a market capitalization of $41.48 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The stock's 50-day moving average price is $198.48 and its 200-day moving average price is $179.36. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $100.30 and a 12-month high of $218.51.

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

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.58%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Insider Activity

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. This represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. Corporate 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.

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