Generali Asset Management SPA SGR Takes $5.08 Million Position in Targa Resources Corp. (NYSE:TRGP)

Generali Asset Management SPA SGR acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,451 shares of the pipeline company's stock, valued at approximately $5,079,000.

A number of other hedge funds have also bought and sold shares of TRGP. MML Investors Services LLC boosted its holdings in Targa Resources by 65.1% during the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock valued at $3,791,000 after acquiring an additional 10,100 shares during the period. Nordea Investment Management AB boosted its stake in shares of Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock valued at $5,070,000 after purchasing an additional 13,167 shares during the period. Cerity Partners LLC grew its holdings in shares of Targa Resources by 47.5% in the third quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company's stock worth $4,277,000 after purchasing an additional 9,307 shares during the last quarter. Capital Investment Advisors LLC increased its stake in Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after buying an additional 5,431 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in Targa Resources in the 4th quarter worth about $271,000. Institutional investors own 92.13% of the company's stock.

Insider Activity

In related news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now directly owns 227,269 shares of the company's stock, valued at $43,731,100.98. This represents a 11.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction dated 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 sale, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock worth $22,613,288 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

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Targa Resources Stock Down 1.1 %

Shares of NYSE TRGP traded down $2.27 during trading hours on Friday, hitting $197.25. 2,054,808 shares of the stock were exchanged, compared to its average volume of 1,573,416. The company has a market cap of $43.02 billion, a PE ratio of 34.36, a PEG ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 12 month low of $110.09 and a 12 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 firm has a fifty day moving average price of $199.77 and a 200-day moving average price of $183.11.

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

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. Targa Resources's payout ratio is 52.26%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of research analyst reports. US Capital Advisors downgraded shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Scotiabank dropped their price objective on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada lifted their target price on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Mizuho increased their price target on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Barclays lifted their price objective on Targa Resources from $204.00 to $211.00 and gave the company an "overweight" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus target price of $211.00.

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.