Versant Capital Management Inc Boosts Holdings in Targa Resources Corp. (NYSE:TRGP)

Versant Capital Management Inc grew its position in Targa Resources Corp. (NYSE:TRGP) by 199.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 818 shares of the pipeline company’s stock after purchasing an additional 545 shares during the quarter. Versant Capital Management Inc’s holdings in Targa Resources were worth $146,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Targa Resources by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after buying an additional 96,268 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Targa Resources by 2.9% during the third quarter. Principal Financial Group Inc. now owns 814,296 shares of the pipeline company’s stock worth $120,540,000 after acquiring an additional 22,621 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Targa Resources during the third quarter valued at about $7,206,000. Franklin Resources Inc. raised its position in shares of Targa Resources by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 524,336 shares of the pipeline company’s stock valued at $77,607,000 after purchasing an additional 48,600 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Targa Resources by 326.3% in the 3rd quarter. Tidal Investments LLC now owns 13,572 shares of the pipeline company’s stock worth $2,009,000 after purchasing an additional 10,388 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TRGP shares. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. UBS Group raised their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays raised their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company upped their target price on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $181.43.

Targa Resources Stock Up 1.7 %

TRGP stock opened at $186.17 on Friday. The firm’s fifty day moving average is $186.72 and its 200 day moving average is $158.57. The firm has a market cap of $40.60 billion, a PE ratio of 33.67, a P/E/G ratio of 0.73 and a beta of 2.30. Targa Resources Corp. has a one year low of $81.03 and a one year high of $209.87. 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 results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the business earned $0.97 EPS. On average, research analysts forecast that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Insider Activity at Targa Resources

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

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.