Targa Resources Corp. (NYSE:TRGP) Position Increased by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 85.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,530 shares of the pipeline company's stock after purchasing an additional 13,167 shares during the period. Nordea Investment Management AB's holdings in Targa Resources were worth $5,070,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Targa Resources by 5.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,714 shares of the pipeline company's stock valued at $1,251,000 after purchasing an additional 486 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Targa Resources in the 2nd quarter worth approximately $1,380,000. Ashton Thomas Private Wealth LLC acquired a new position in Targa Resources in the 2nd quarter valued at $78,000. Choreo LLC purchased a new position in shares of Targa Resources during the 2nd quarter worth $929,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Targa Resources by 0.5% during the second quarter. Royal London Asset Management Ltd. now owns 68,366 shares of the pipeline company's stock worth $8,804,000 after purchasing an additional 309 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Up 0.8 %

Shares of NYSE TRGP traded up $1.61 during trading on Friday, reaching $193.59. 1,800,544 shares of the stock were exchanged, compared to its average volume of 1,471,691. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The business's 50-day moving average price is $189.18 and its 200 day moving average price is $161.03. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $209.87.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. The firm 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 quarter in the previous year, the business posted $0.97 EPS. As a group, equities analysts forecast that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Insider Activity at Targa Resources

In related news, 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 sale, the chief accounting officer now directly owns 35,143 shares of the company's stock, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 82,979 shares of the company's stock, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TRGP has been the topic of several recent analyst reports. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They set a "buy" rating and a $182.00 target price on the stock. Scotiabank started coverage on shares of Targa Resources in a research report on Friday. They issued a "sector outperform" rating and a $218.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Barclays increased their price target on shares of Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Finally, 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 note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $186.86.

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.