14,629 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 14,629 shares of the pipeline company’s stock, valued at approximately $1,271,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of Targa Resources by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 454,796 shares of the pipeline company’s stock valued at $39,508,000 after purchasing an additional 6,952 shares during the period. Trexquant Investment LP lifted its stake in Targa Resources by 1,066.7% in the fourth quarter. Trexquant Investment LP now owns 45,606 shares of the pipeline company’s stock valued at $3,962,000 after buying an additional 41,697 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Targa Resources by 22.8% in the fourth quarter. Corient Private Wealth LLC now owns 32,431 shares of the pipeline company’s stock valued at $2,817,000 after acquiring an additional 6,026 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Targa Resources by 7.7% in the 4th quarter. Wells Fargo & Company MN now owns 252,689 shares of the pipeline company’s stock valued at $21,951,000 after acquiring an additional 18,152 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in Targa Resources by 19.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,512 shares of the pipeline company’s stock valued at $653,000 after purchasing an additional 1,238 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the transaction, the insider now owns 156,098 shares of the company’s stock, valued at approximately $15,141,506. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Julie H. Boushka sold 2,691 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the sale, the chief accounting officer now owns 57,228 shares of the company’s stock, valued at approximately $6,466,764. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the transaction, the insider now owns 156,098 shares in the company, valued at approximately $15,141,506. The disclosure for this sale can be found here. In the last three months, insiders sold 42,691 shares of company stock worth $4,663,763. Insiders own 1.39% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE:TRGP traded up $0.43 on Friday, hitting $114.28. The company had a trading volume of 928,756 shares, compared to its average volume of 1,397,665. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. The company has a market cap of $25.34 billion, a PE ratio of 23.51, a PEG ratio of 0.66 and a beta of 2.19. Targa Resources Corp. has a 52-week low of $67.36 and a 52-week high of $119.68. The business has a 50 day moving average of $113.74 and a 200 day moving average of $97.84.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. As a group, equities analysts anticipate that Targa Resources Corp. will post 5.33 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.75 dividend. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 2.63%. The ex-dividend date was Monday, April 29th. Targa Resources’s payout ratio is presently 61.73%.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Stifel Nicolaus lifted their target price on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their price objective on Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. The Goldman Sachs Group raised their target price on Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Mizuho upped their price target on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Targa Resources 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.