Union Bancaire Privee UBP SA Purchases Shares of 13,074 Targa Resources Corp. (NYSE:TRGP)

Union Bancaire Privee UBP SA bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,074 shares of the pipeline company’s stock, valued at approximately $2,200,000.

A number of other large investors have also recently made changes to their positions in TRGP. Blue Trust Inc. lifted its position in shares of Targa Resources by 54.5% during the fourth quarter. Blue Trust Inc. now owns 4,034 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 1,423 shares in the last quarter. PFG Investments LLC purchased a new stake in Targa Resources during the fourth quarter valued at about $237,000. Affinity Wealth Management LLC boosted its holdings in Targa Resources by 117.4% in the 4th quarter. Affinity Wealth Management LLC now owns 5,341 shares of the pipeline company’s stock worth $953,000 after buying an additional 2,884 shares during the period. First Citizens Bank & Trust Co. bought a new position in shares of Targa Resources in the fourth quarter worth $207,000. Finally, PCG Wealth Advisors LLC bought a new position in Targa Resources in the 4th quarter worth about $216,000. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Targa Resources Price Performance

TRGP stock opened at $199.14 on Tuesday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market capitalization of $43.43 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 0.63 and a beta of 2.30. The firm has a 50 day moving average price of $193.46 and a 200-day moving average price of $166.76. Targa Resources Corp. has a 52-week low of $84.33 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the firm posted $0.97 earnings per share. Equities research analysts forecast that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank initiated coverage on shares of Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Royal Bank of Canada increased their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. UBS Group lifted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company upped their price target on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $189.21.

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.