Targa Resources Corp. (NYSE:TRGP) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its position in Targa Resources Corp. (NYSE:TRGP) by 13.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,642 shares of the pipeline company’s stock after buying an additional 8,340 shares during the period. Royal London Asset Management Ltd.’s holdings in Targa Resources were worth $6,310,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC acquired a new position in Targa Resources in the fourth quarter worth approximately $27,000. VisionPoint Advisory Group LLC grew its position in Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after buying an additional 209 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Targa Resources in the fourth quarter worth approximately $42,000. Delos Wealth Advisors LLC acquired a new position in Targa Resources in the fourth quarter worth approximately $43,000. Finally, Quarry LP acquired a new position in Targa Resources in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TRGP shares. Mizuho lifted their price target on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Morgan Stanley lifted their price target on shares of Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Scotiabank lifted their price objective on shares of Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 15th. Finally, UBS Group lifted their price objective on shares of Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and an average price target of $128.58.

Targa Resources Stock Down 1.0 %

TRGP traded down $1.24 during midday trading on Friday, hitting $119.00. 1,085,787 shares of the company’s stock traded hands, compared to its average volume of 1,226,637. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. The company has a market cap of $26.38 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 0.71 and a beta of 2.21. The stock’s fifty day simple moving average is $115.58 and its 200-day simple moving average is $101.16. Targa Resources Corp. has a one year low of $69.86 and a one year high of $122.24.

Targa Resources (NYSE:TRGP) last posted 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 business had revenue of $4.56 billion during the quarter, compared to analyst estimates 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 5.27 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm 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. The ex-dividend date was Monday, April 29th. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 dividend on an annualized basis and a yield of 2.52%. Targa Resources’s payout ratio is 61.73%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the completion of the sale, the insider now owns 196,951 shares of the company’s stock, valued at $23,649,876.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the sale, the insider now directly owns 136,098 shares in the company, valued at $15,396,766.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $120.08, for a total value of $1,200,800.00. Following the completion of the transaction, the insider now owns 196,951 shares in the company, valued at $23,649,876.08. The disclosure for this sale can be found here. Insiders sold 42,691 shares of company stock worth $4,894,563 over the last ninety days. 1.39% of the stock is currently owned by insiders.

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.