Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,794 shares of the pipeline company's stock after purchasing an additional 2,087 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Targa Resources were worth $14,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Wellington Management Group LLP increased its stake in Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock worth $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. National Bank of Canada FI increased its stake in Targa Resources by 75.4% during the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock worth $89,413,000 after acquiring an additional 259,776 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Targa Resources by 599.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company's stock worth $42,619,000 after acquiring an additional 246,762 shares during the last quarter. International Assets Investment Management LLC increased its stake in Targa Resources by 14,163.5% during the third quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company's stock worth $30,232,000 after acquiring an additional 202,822 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of Targa Resources by 1,904.8% in the third quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company's stock worth $29,596,000 after buying an additional 189,984 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Performance

NYSE:TRGP traded up $0.74 during trading hours on Wednesday, reaching $210.19. 1,842,749 shares of the stock were exchanged, compared to its average volume of 1,435,398. 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 50 day simple moving average of $194.72 and a 200-day simple moving average of $174.96. Targa Resources Corp. has a 52 week low of $95.28 and a 52 week high of $218.51. The stock has a market capitalization of $45.83 billion, a P/E ratio of 38.01, a P/E/G ratio of 0.61 and a beta of 2.29.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio is presently 54.25%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TRGP shares. Scotiabank started coverage on Targa Resources in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 target price for the company. The Goldman Sachs Group upped their target price on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. UBS Group upped their target price on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their target price on Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and an average target price of $189.21.

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.