Targa Resources, Inc. $TRGP Shares Bought by MUFG Securities EMEA plc

MUFG Securities EMEA plc raised its position in Targa Resources, Inc. (NYSE:TRGP) by 113.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,800 shares of the pipeline company’s stock after buying an additional 4,681 shares during the quarter. MUFG Securities EMEA plc’s holdings in Targa Resources were worth $1,624,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Targa Resources by 10.5% in the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after buying an additional 50 shares during the period. First Horizon Corp increased its stake in Targa Resources by 20.1% in the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after buying an additional 57 shares during the period. Larson Financial Group LLC increased its stake in Targa Resources by 4.1% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after buying an additional 60 shares during the period. Equitable Holdings Inc. increased its stake in Targa Resources by 3.6% in the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock valued at $287,000 after buying an additional 60 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Targa Resources by 1.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after buying an additional 64 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on TRGP shares. The Goldman Sachs Group lifted their price target on Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Barclays lifted their price target on Targa Resources from $255.00 to $262.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Morgan Stanley lifted their price target on Targa Resources from $327.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wells Fargo & Company lifted their price target on Targa Resources from $264.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $281.00 price target on shares of Targa Resources in a research note on Tuesday, May 12th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of “Moderate Buy” and an average target price of $269.21.

Insider Buying and Selling at Targa Resources

In related news, insider Robert Muraro sold 24,589 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider directly owned 197,401 shares in the company, valued at approximately $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 10,602 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the completion of the transaction, the director owned 66,492 shares of the company’s stock, valued at $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.37% of the company’s stock.

Targa Resources Stock Up 1.7%

TRGP opened at $263.54 on Wednesday. The business’s fifty day moving average is $251.66 and its two-hundred day moving average is $217.12. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The company has a market cap of $56.57 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.33 and a beta of 0.72. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $280.00.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. Analysts anticipate that Targa Resources, Inc. will post 10.75 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $1.25 dividend. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, April 30th. Targa Resources’s dividend payout ratio (DPR) is currently 50.56%.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.