Daiwa Securities Group Inc. Has $5.73 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Daiwa Securities Group Inc. increased its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 18.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,723 shares of the pipeline company's stock after buying an additional 6,077 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Targa Resources were worth $5,731,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new position in Targa Resources during the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Targa Resources during the second quarter valued at $29,000. UMB Bank n.a. raised its position in Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after buying an additional 222 shares during the period. Prospera Private Wealth LLC purchased a new stake in Targa Resources in the 3rd quarter worth about $35,000. Finally, Whittier Trust Co. acquired a new stake in Targa Resources during the 2nd quarter worth about $44,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares of the company's stock, valued at approximately $25,504,736.20. This represents a 1.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,760 shares of company stock worth $30,026,712. 1.44% of the stock is owned by corporate insiders.

Targa Resources Stock Up 1.2 %

Shares of TRGP stock opened at $203.42 on Wednesday. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. 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 firm has a market cap of $44.36 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 0.80 and a beta of 2.24. The stock has a 50 day moving average of $171.40 and a 200-day moving average of $145.62.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period last year, the business posted $0.97 EPS. On average, equities analysts predict that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Thursday, October 31st. Targa Resources's dividend payout ratio is presently 54.25%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Barclays increased their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Morgan Stanley boosted their target price on Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Finally, US Capital Advisors lowered shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $176.50.

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.