Achmea Investment Management B.V. Boosts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Achmea Investment Management B.V. boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 186.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,894 shares of the pipeline company’s stock after buying an additional 55,913 shares during the quarter. Achmea Investment Management B.V.’s holdings in Targa Resources were worth $15,332,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after buying an additional 146 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Targa Resources in the third quarter valued at $35,000. Aspect Partners LLC increased its holdings in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after buying an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Targa Resources in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now directly owns 2,899 shares of the company’s stock, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 over the last 90 days. Company insiders own 1.44% of the company’s stock.

Targa Resources Price Performance

Shares of TRGP opened at $187.14 on Thursday. Targa Resources Corp. has a fifty-two week low of $104.89 and a fifty-two week high of $218.51. The company has a market capitalization of $40.82 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The firm has a 50-day simple moving average of $199.00 and a 200-day simple moving average of $180.77. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, equities research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. Targa Resources’s payout ratio is currently 52.26%.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several research analyst reports. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays upped their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Mizuho upped their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Truist Financial decreased their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Scotiabank decreased their price objective on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources presently has an average rating of “Buy” and an average price target of $206.43.

About Targa Resources

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.