Board of the Pension Protection Fund Invests $375,000 in Targa Resources Corp. (NYSE:TRGP)

Board of the Pension Protection Fund purchased a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,100 shares of the pipeline company’s stock, valued at approximately $375,000.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its stake in shares of Targa Resources by 14.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,547 shares of the pipeline company’s stock valued at $633,000 after acquiring an additional 461 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares during the last quarter. CHICAGO TRUST Co NA lifted its holdings in Targa Resources by 17.2% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,290 shares of the pipeline company’s stock worth $587,000 after buying an additional 484 shares during the period. Capital Investment Advisors LLC grew its position in shares of Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of Targa Resources by 5.9% during the fourth quarter. Czech National Bank now owns 47,281 shares of the pipeline company’s stock valued at $8,440,000 after buying an additional 2,653 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

TRGP stock opened at $200.89 on Wednesday. The stock has a market capitalization of $43.81 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The stock’s 50 day simple moving average is $190.21 and its 200 day simple moving average is $162.26. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $209.87. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm posted $0.97 earnings per share. As a group, research analysts forecast that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent analyst reports. Scotiabank assumed coverage on shares of Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Morgan Stanley increased their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group increased their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $189.21.

Insider Activity

In other news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.

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.