Quantessence Capital LLC Makes New $1.84 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Quantessence Capital LLC acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,284 shares of the pipeline company's stock, valued at approximately $1,836,000.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Targa Resources by 85.7% in the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after purchasing an additional 13,167 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of Targa Resources by 191.4% in the fourth 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. Atomi Financial Group Inc. purchased a new position in shares of Targa Resources in the fourth quarter worth $271,000. Segment Wealth Management LLC increased its holdings in Targa Resources by 2,753.4% during the 4th quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock valued at $9,876,000 after purchasing an additional 53,389 shares during the period. Finally, Diversified Trust Co raised its holdings in Targa Resources by 133.4% in the 4th quarter. Diversified Trust Co now owns 11,475 shares of the pipeline company's stock worth $2,048,000 after purchasing an additional 6,558 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TRGP shares. Wells Fargo & Company upped their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Scotiabank decreased their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley increased their target price on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Barclays cut their price target on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Mizuho lifted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $210.64.

Targa Resources Trading Up 0.3 %

Shares of Targa Resources stock traded up $0.53 during trading hours on Friday, hitting $177.53. The company's stock had a trading volume of 30,122 shares, compared to its average volume of 1,724,919. The business has a fifty day moving average of $186.22 and a 200 day moving average of $187.76. The company has a market capitalization of $38.63 billion, a PE ratio of 30.93, a P/E/G ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year 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.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results 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 return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. As a group, equities analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is presently 69.69%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now directly owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 in the last quarter. Corporate insiders own 1.34% of the company's stock.

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.