O Shaughnessy Asset Management LLC Grows Stock Position in Targa Resources Corp. (NYSE:TRGP)

O Shaughnessy Asset Management LLC increased its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,954 shares of the pipeline company's stock after acquiring an additional 1,708 shares during the period. O Shaughnessy Asset Management LLC's holdings in Targa Resources were worth $5,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRGP. Atala Financial Inc purchased a new position in shares of Targa Resources during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. raised its stake in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares during the last quarter. Aspect Partners LLC raised its stake in Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after buying an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after buying an additional 89 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Targa Resources in the 4th quarter worth $49,000. 92.13% of the stock is owned by institutional investors.

Targa Resources Price Performance

Shares of NYSE:TRGP traded up $3.38 during trading on Monday, hitting $164.57. 4,884,611 shares of the company's stock were exchanged, compared to its average volume of 1,696,381. The business's 50-day simple moving average is $196.33 and its 200 day simple moving average is $186.83. The company has a market cap of $35.81 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

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

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.82%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is currently 52.26%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the transaction, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 in the last 90 days. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRGP shares. Citigroup increased their target price on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Wells Fargo & Company raised 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. Mizuho boosted their target price 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. The Goldman Sachs Group increased their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $211.00.

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.