Visionary Horizons LLC Purchases 647 Shares of Targa Resources Corp. (NYSE:TRGP)

Visionary Horizons LLC increased its stake in Targa Resources Corp. (NYSE:TRGP) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,382 shares of the pipeline company’s stock after purchasing an additional 647 shares during the period. Visionary Horizons LLC’s holdings in Targa Resources were worth $617,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its position in Targa Resources by 17.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 633 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 93 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in Targa Resources by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 17,695 shares of the pipeline company’s stock worth $1,981,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC grew its holdings in Targa Resources by 3.3% during the 4th quarter. HB Wealth Management LLC now owns 4,970 shares of the pipeline company’s stock worth $432,000 after acquiring an additional 160 shares during the period. Banque Cantonale Vaudoise grew its holdings in Targa Resources by 0.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 31,515 shares of the pipeline company’s stock worth $3,530,000 after acquiring an additional 178 shares during the period. Finally, Czech National Bank grew its holdings in Targa Resources by 0.5% during the 1st quarter. Czech National Bank now owns 39,232 shares of the pipeline company’s stock worth $4,394,000 after acquiring an additional 179 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $127.48 on Thursday. The firm has a market cap of $28.26 billion, a PE ratio of 26.23, a PEG ratio of 0.76 and a beta of 2.21. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 1-year low of $71.21 and a 1-year high of $130.23. The company has a fifty day moving average price of $117.08 and a 200 day moving average price of $103.21.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.28 billion. Research analysts predict that Targa Resources Corp. will post 5.27 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 29th. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 2.35%. Targa Resources’s payout ratio is 61.73%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Argus assumed coverage on shares of Targa Resources in a report on Wednesday. They set a “buy” rating and a $140.00 target price for the company. UBS Group lifted their target price on shares of Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. The Goldman Sachs Group lifted their target price on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus lifted their target price on shares of Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Mizuho lifted their target price on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.46.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total transaction of $787,780.00. Following the sale, the director now directly owns 95,471 shares of the company’s stock, valued at approximately $10,744,306.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles R. Crisp sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total value of $787,780.00. Following the sale, the director now directly owns 95,471 shares of the company’s stock, valued at approximately $10,744,306.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 2,691 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares in the company, valued at $6,466,764. The disclosure for this sale can be found here. Insiders have sold 42,691 shares of company stock valued at $4,894,563 in the last three months. 1.39% of the stock is currently owned by corporate insiders.

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.