Targa Resources Corp. (NYSE:TRGP) Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 112.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,398 shares of the pipeline company’s stock after acquiring an additional 3,920 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Targa Resources were worth $1,320,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TRGP. Barclays PLC increased its stake in Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock valued at $153,124,000 after buying an additional 168,602 shares during the period. Virtu Financial LLC lifted its position in Targa Resources by 39.4% in the third quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company’s stock worth $1,250,000 after purchasing an additional 2,388 shares during the period. Fulcrum Equity Management boosted its stake in Targa Resources by 7.1% during the 3rd quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company’s stock valued at $464,000 after purchasing an additional 208 shares in the last quarter. Sfmg LLC increased its position in shares of Targa Resources by 3.3% during the 3rd quarter. Sfmg LLC now owns 3,131 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 100 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Targa Resources in the 3rd quarter worth $145,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

NYSE TRGP opened at $176.87 on Friday. The company has a 50 day simple moving average of $186.22 and a 200-day simple moving average of $187.76. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week high of $218.51. The firm has a market capitalization of $38.48 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

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

Targa Resources Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $1.00 dividend. This represents a yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources’s payout ratio is currently 69.69%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRGP. Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. US Capital Advisors raised shares of Targa Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Royal Bank of Canada raised their target price on shares of Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Scotiabank dropped their price target on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Barclays reduced their price objective on Targa Resources from $211.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $210.64.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 in the last three months. Corporate insiders own 1.34% 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.