Fox Run Management L.L.C. Acquires New Stake in Targa Resources Corp. (NYSE:TRGP)

Fox Run Management L.L.C. bought a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,662 shares of the pipeline company's stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TRGP. Natixis Advisors LLC grew its position in shares of Targa Resources by 81.0% in the 3rd quarter. Natixis Advisors LLC now owns 45,818 shares of the pipeline company's stock worth $6,782,000 after buying an additional 20,501 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Targa Resources by 51.1% in the third quarter. Thrivent Financial for Lutherans now owns 14,106 shares of the pipeline company's stock worth $2,087,000 after purchasing an additional 4,769 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Targa Resources during the third quarter worth $1,175,000. Avior Wealth Management LLC lifted its holdings in shares of Targa Resources by 76.7% during the 3rd quarter. Avior Wealth Management LLC now owns 2,361 shares of the pipeline company's stock valued at $349,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources in the 3rd quarter worth $35,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

NYSE:TRGP traded down $3.07 during trading hours on Thursday, reaching $198.97. The company had a trading volume of 1,267,513 shares, compared to its average volume of 1,568,391. 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 Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. The business's 50 day moving average price is $199.95 and its 200-day moving average price is $184.28. The firm has a market cap of $43.40 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32.

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Targa Resources (NYSE:TRGP - Get Free Report) last posted its 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 during 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%. Research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current 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 given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Insider Activity at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 in the last 90 days. Corporate insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho increased their price target on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Barclays lifted 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, March 21st. Finally, Wells Fargo & Company upped their target price on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. One 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $211.00.

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.