UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 14,287 Shares of Targa Resources Corp. (NYSE:TRGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,331,503 shares of the pipeline company's stock after buying an additional 14,287 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.61% of Targa Resources worth $197,076,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TRGP. Jacobs Levy Equity Management Inc. raised its holdings in Targa Resources by 54.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 7,574 shares of the pipeline company's stock valued at $848,000 after buying an additional 2,664 shares during the last quarter. Tidal Investments LLC increased its position in Targa Resources by 8.0% during the 1st quarter. Tidal Investments LLC now owns 10,117 shares of the pipeline company's stock valued at $1,133,000 after purchasing an additional 751 shares during the period. Cetera Investment Advisers increased its position in Targa Resources by 215.2% during the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company's stock valued at $3,478,000 after purchasing an additional 21,200 shares during the period. Cetera Advisors LLC increased its position in Targa Resources by 166.9% during the 1st quarter. Cetera Advisors LLC now owns 6,453 shares of the pipeline company's stock valued at $723,000 after purchasing an additional 4,035 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Targa Resources by 21.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,744 shares of the pipeline company's stock valued at $6,927,000 after purchasing an additional 11,098 shares during the period. Institutional investors own 92.13% of the company's stock.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares in the company, valued at $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. Insiders have sold 185,760 shares of company stock worth $30,026,712 in the last ninety days. Company insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRGP. Morgan Stanley increased their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Barclays increased their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $176.50.

Targa Resources Stock Up 1.4 %

NYSE TRGP traded up $2.91 during mid-day trading on Friday, hitting $204.30. The company's stock had a trading volume of 826,795 shares, compared to its average volume of 1,682,676. The company's 50 day simple moving average is $174.40 and its 200 day simple moving average is $147.26. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $209.87. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $4.24 billion. During the same period last year, the business earned $0.97 EPS. Analysts anticipate that Targa Resources Corp. will post 6.28 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources's dividend payout ratio (DPR) is presently 54.25%.

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.