US Bancorp DE Acquires 1,938 Shares of Targa Resources Corp. (NYSE:TRGP)

US Bancorp DE lifted its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,975 shares of the pipeline company's stock after purchasing an additional 1,938 shares during the quarter. US Bancorp DE's holdings in Targa Resources were worth $4,637,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRGP. Prospera Private Wealth LLC bought a new position in shares of Targa Resources in the third quarter worth $35,000. Aspect Partners LLC increased its holdings in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after purchasing an additional 130 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after purchasing an additional 89 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Targa Resources in the fourth quarter worth $49,000. Finally, UMB Bank n.a. increased its holdings in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company's stock worth $67,000 after purchasing an additional 106 shares during the period. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TRGP. The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Scotiabank began coverage on Targa Resources in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 target price on the stock. Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada increased their target price on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday. One equities research 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, the company presently has a consensus rating of "Buy" and a consensus target price of $207.00.

Targa Resources Stock Performance

NYSE TRGP opened at $186.67 on Thursday. The company has a 50-day simple moving average of $198.60 and a two-hundred day simple moving average of $179.41. 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 12-month low of $103.04 and a 12-month high of $218.51. The firm has a market cap of $40.71 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 0.61 and a beta of 2.29.

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

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. Targa Resources's dividend payout ratio is currently 52.26%.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. Company insiders own 1.39% of the company's stock.

About Targa Resources

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.

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