Diversified Trust Co Raises Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Diversified Trust Co increased its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 133.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,475 shares of the pipeline company's stock after buying an additional 6,558 shares during the quarter. Diversified Trust Co's holdings in Targa Resources were worth $2,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Buckley Wealth Management LLC raised its position in shares of Targa Resources by 0.7% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock valued at $1,469,000 after buying an additional 65 shares during the period. Coldstream Capital Management Inc. raised 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 purchasing an additional 66 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Targa Resources by 9.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company's stock valued at $138,000 after purchasing an additional 83 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Targa Resources by 4.0% during 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. Finally, Huntington National Bank increased its position in shares of Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock worth $71,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insiders Place Their Bets

In other news, insider D. Scott Pryor sold 30,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now owns 82,979 shares of the company's stock, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 35,143 shares of the company's stock, 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. 1.39% of the stock is owned by company insiders.

Targa Resources Stock Up 2.1 %

Shares of Targa Resources stock traded up $4.00 on Wednesday, reaching $191.82. 1,224,424 shares of the company were exchanged, compared to its average volume of 1,405,560. The stock's 50 day moving average price is $188.12 and its 200-day moving average price is $160.14. The company has a market cap of $41.83 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $209.87. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.97 EPS. As a group, equities analysts forecast that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources's dividend payout ratio is presently 54.25%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRGP. Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a "buy" rating and a $182.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Barclays boosted their target price on Targa Resources from $155.00 to $171.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. UBS Group upped their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada lifted their price objective on Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $181.43.

Targa Resources 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.