Cibc World Markets Corp Has $6.06 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Cibc World Markets Corp raised its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,942 shares of the pipeline company's stock after purchasing an additional 4,709 shares during the quarter. Cibc World Markets Corp's holdings in Targa Resources were worth $6,059,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TRGP. Atala Financial Inc acquired a new stake in Targa Resources during the fourth quarter worth $31,000. Rakuten Securities Inc. lifted its stake in Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after purchasing an additional 146 shares during the period. Prospera Private Wealth LLC bought a new position in Targa Resources during the third quarter worth about $35,000. Aspect Partners LLC boosted its holdings in Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after purchasing an additional 89 shares during the period. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho raised their target price on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 26th. Scotiabank lowered their target price on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Finally, Barclays upped their price objective on shares of Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources presently has an average rating of "Buy" and a consensus target price of $211.00.

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Insider Activity at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. This represents a 43.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares in the company, valued at $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 115,914 shares of company stock worth $22,613,288 over the last ninety days. Company insiders own 1.39% of the company's stock.

Targa Resources Trading Up 3.9 %

NYSE:TRGP traded up $7.61 during trading hours on Monday, hitting $205.01. 1,259,524 shares of the stock were exchanged, compared to its average volume of 1,572,160. The company's 50 day moving average is $199.77 and its two-hundred day moving average is $183.36. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $44.71 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP - Get Free Report) last issued 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). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

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.