Targa Resources, Inc. $TRGP Shares Acquired by NFC Investments LLC

NFC Investments LLC raised its position in Targa Resources, Inc. (NYSE:TRGP) by 33.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,396 shares of the pipeline company’s stock after acquiring an additional 16,793 shares during the period. Targa Resources comprises approximately 3.5% of NFC Investments LLC’s holdings, making the stock its 10th largest holding. NFC Investments LLC’s holdings in Targa Resources were worth $12,434,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new position in Targa Resources in the 4th quarter valued at approximately $234,000. Janney Montgomery Scott LLC raised its holdings in Targa Resources by 14.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 69,294 shares of the pipeline company’s stock valued at $12,785,000 after acquiring an additional 8,665 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in Targa Resources by 39.2% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,203 shares of the pipeline company’s stock valued at $960,000 after acquiring an additional 1,465 shares in the last quarter. Deutsche Bank AG raised its holdings in Targa Resources by 44.5% in the 4th quarter. Deutsche Bank AG now owns 1,260,615 shares of the pipeline company’s stock valued at $232,583,000 after acquiring an additional 387,996 shares in the last quarter. Finally, Paragon Private Wealth Management LLC raised its holdings in Targa Resources by 5.9% in the 4th quarter. Paragon Private Wealth Management LLC now owns 6,430 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TRGP shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $241.00 price target on shares of Targa Resources in a report on Friday, February 20th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Targa Resources in a report on Monday, May 4th. UBS Group upped their price target on Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Stifel Nicolaus set a $268.00 price target on Targa Resources in a report on Friday, May 8th. Finally, Barclays upped their price objective on Targa Resources from $255.00 to $262.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. 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 a consensus target price of $269.21.

Insider Buying and Selling at Targa Resources

In related news, Director Charles R. Crisp sold 10,602 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the sale, the director directly owned 66,492 shares in the company, valued at $17,019,292.32. This represents a 13.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.

Targa Resources Trading Up 3.2%

TRGP stock opened at $272.54 on Thursday. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $280.00. The firm has a market cap of $58.50 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.35 and a beta of 0.72. The business’s 50 day moving average is $254.50 and its 200-day moving average is $221.82. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.68 billion. Equities analysts anticipate that Targa Resources, Inc. will post 10.75 earnings per share 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 paid a $1.25 dividend. The ex-dividend date was Thursday, April 30th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. Targa Resources’s dividend payout ratio is currently 50.56%.

About Targa Resources

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.