Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Axecap Investments LLC

Axecap Investments LLC boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,766 shares of the pipeline company’s stock after acquiring an additional 835 shares during the quarter. Targa Resources makes up approximately 3.1% of Axecap Investments LLC’s holdings, making the stock its 9th biggest holding. Axecap Investments LLC’s holdings in Targa Resources were worth $4,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. National Bank of Canada FI increased its holdings in Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock valued at $89,413,000 after purchasing an additional 259,776 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Targa Resources by 599.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock valued at $42,619,000 after buying an additional 246,762 shares during the period. International Assets Investment Management LLC increased its stake in shares of Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock valued at $30,232,000 after acquiring an additional 202,822 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Targa Resources by 1,904.8% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company’s stock valued at $29,596,000 after acquiring an additional 189,984 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their price target on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays lifted their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Bank of America assumed coverage on shares of Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price on the stock. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $189.21.

Targa Resources Trading Up 2.2 %

Shares of Targa Resources stock opened at $205.87 on Tuesday. Targa Resources Corp. has a 12-month low of $87.37 and a 12-month high of $218.51. 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 business’s 50 day moving average is $193.07 and its 200-day moving average is $171.43. The stock has a market cap of $44.89 billion, a P/E ratio of 37.23, a P/E/G ratio of 0.59 and a beta of 2.29.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.