Quantinno Capital Management LP Acquires 15,222 Shares of Targa Resources Corp. (NYSE:TRGP)

Quantinno Capital Management LP raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 45.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,771 shares of the pipeline company’s stock after buying an additional 15,222 shares during the quarter. Quantinno Capital Management LP’s holdings in Targa Resources were worth $8,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Targa Resources by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company’s stock worth $4,848,169,000 after purchasing an additional 150,038 shares in the last quarter. Geode Capital Management LLC increased its holdings in Targa Resources by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company’s stock valued at $1,056,187,000 after purchasing an additional 212,986 shares during the last quarter. Norges Bank bought a new stake in Targa Resources in the fourth quarter valued at about $505,132,000. Price T Rowe Associates Inc. MD increased its holdings in Targa Resources by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company’s stock valued at $492,022,000 after purchasing an additional 53,853 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Targa Resources in the fourth quarter worth about $393,335,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $166.62 on Friday. The business’s 50 day moving average price is $177.59 and its two-hundred day moving average price is $188.02. The company has a market cap of $36.15 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. 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 $113.65 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($1.13). The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $1.00 per share. This represents a yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources’s dividend payout ratio (DPR) is presently 73.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRGP shares. Scotiabank reduced their price target on shares of Targa Resources from $201.00 to $199.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 29th. US Capital Advisors upgraded shares of Targa Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Wells Fargo & Company upped their price target on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays reduced their price target on shares of Targa Resources from $211.00 to $206.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Mizuho decreased their price objective on Targa Resources from $226.00 to $218.00 and set an “outperform” rating for the company in a report on Monday, April 28th. 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $201.64.

Insiders Place Their Bets

In other news, insider D. Scott Pryor sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. This represents a 11.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 over the last 90 days. 1.34% of the stock is currently owned by insiders.

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.