R Squared Ltd Invests $321,000 in Targa Resources Corp. (NYSE:TRGP)

R Squared Ltd acquired a new stake in Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,800 shares of the pipeline company’s stock, valued at approximately $321,000.

Several other institutional investors have also recently bought and sold shares of the business. DT Investment Partners LLC acquired a new position in shares of Targa Resources in the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the second quarter valued at $29,000. Prospera Private Wealth LLC bought a new position in Targa Resources during the 3rd quarter worth $35,000. Rosenberg Matthew Hamilton lifted its holdings in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Targa Resources by 39.6% in the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TRGP. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Bank of America assumed coverage on shares of Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. Morgan Stanley increased their price target on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Barclays lifted their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One 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. According to MarketBeat.com, Targa Resources has an average rating of “Buy” and an average target price of $189.21.

Insider Activity at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Targa Resources Stock Up 1.7 %

Targa Resources stock opened at $202.55 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $44.17 billion, a P/E ratio of 36.63, a P/E/G ratio of 0.63 and a beta of 2.30. The firm has a 50 day moving average price of $193.47 and a 200-day moving average price of $167.22. Targa Resources Corp. has a twelve month low of $84.33 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, equities analysts predict that Targa Resources Corp. will post 6.42 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.