Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Vestcor Inc

Vestcor Inc raised its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 64.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,513 shares of the pipeline company's stock after purchasing an additional 4,106 shares during the period. Vestcor Inc's holdings in Targa Resources were worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in shares of Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after acquiring an additional 146 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the 3rd quarter valued at $35,000. Aspect Partners LLC increased its holdings in shares of Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after acquiring an additional 130 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after acquiring 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 valued at $49,000. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

TRGP has been the topic of several research analyst reports. Barclays boosted their target price on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their target price on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Scotiabank dropped their target price on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Royal Bank of Canada boosted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $210.50.

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Insider Activity

In related news, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last quarter. 1.39% of the stock is currently owned by company insiders.

Targa Resources Stock Performance

Shares of TRGP stock traded up $4.63 on Wednesday, hitting $198.90. The company had a trading volume of 1,026,053 shares, compared to its average volume of 1,577,813. The firm has a market cap of $43.38 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company has a 50-day moving average price of $199.40 and a 200-day moving average price of $182.29. 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 twelve month low of $107.31 and a twelve month high of $218.51.

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

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.51%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

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.