World Investment Advisors Invests $288,000 in Targa Resources Corp. (NYSE:TRGP)

World Investment Advisors bought a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,611 shares of the pipeline company's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atala Financial Inc bought a new stake in Targa Resources during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. boosted its stake in Targa Resources by 394.6% during the fourth 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 period. Aspect Partners LLC boosted its stake in Targa Resources by 144.4% during the fourth 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 period. Rosenberg Matthew Hamilton increased its stake in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after acquiring an additional 89 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources in the 4th quarter valued at about $49,000. Institutional investors own 92.13% of the company's stock.

Insider Transactions at Targa Resources

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the stock in a transaction on Tuesday, February 25th. The stock was 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 owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company's stock.

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Targa Resources Trading Up 1.3 %

Shares of NYSE TRGP traded up $2.15 during trading hours on Monday, hitting $165.71. The company's stock had a trading volume of 144,689 shares, compared to its average volume of 1,715,683. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 0.61 and a beta of 1.75. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The business has a 50-day simple moving average of $192.02 and a 200-day simple moving average of $187.11.

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 for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.29%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company upped their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Mizuho upped their target price on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $210.64.

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.