Nordea Investment Management AB Has $24.33 Million Stock Position in Targa Resources, Inc. $TRGP

Nordea Investment Management AB boosted its position in Targa Resources, Inc. (NYSE:TRGP) by 13.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,368 shares of the pipeline company’s stock after acquiring an additional 17,457 shares during the period. Nordea Investment Management AB owned 0.07% of Targa Resources worth $24,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming lifted its holdings in shares of Targa Resources by 3.2% in the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock worth $361,000 after purchasing an additional 64 shares in the last quarter. UMB Bank n.a. raised its holdings in Targa Resources by 11.9% during the second quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock worth $115,000 after buying an additional 70 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Targa Resources by 0.8% in the second quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock valued at $1,618,000 after buying an additional 72 shares in the last quarter. ICONIQ Capital LLC grew its holdings in shares of Targa Resources by 5.7% during the second quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock valued at $250,000 after buying an additional 78 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Targa Resources by 10.9% during the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock valued at $140,000 after buying an additional 79 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $181.88 on Friday. The business’s fifty day simple moving average is $177.76 and its 200 day simple moving average is $168.69. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The firm has a market capitalization of $39.04 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.87.

Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. As a group, analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is 53.19%.

Insider Activity

In other news, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares in the company, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the sale, the insider directly owned 22,139 shares in the company, valued at $3,812,557.19. This trade represents a 47.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TRGP shares. Morgan Stanley upped their target price on shares of Targa Resources from $240.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Royal Bank Of Canada increased their price objective on Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $196.00 target price on shares of Targa Resources in a report on Monday. Wells Fargo & Company upped their price target on Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Scotiabank increased their price target on Targa Resources from $198.00 to $199.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.36.

Targa Resources Company 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.