Fractal Investments LLC Purchases 2,300 Shares of Targa Resources Corp. (NYSE:TRGP)

Fractal Investments LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 286,539 shares of the pipeline company’s stock after buying an additional 2,300 shares during the period. Targa Resources accounts for 5.1% of Fractal Investments LLC’s holdings, making the stock its 7th largest holding. Fractal Investments LLC’s holdings in Targa Resources were worth $24,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Targa Resources by 5.1% during the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock worth $713,107,000 after purchasing an additional 401,144 shares during the period. Deutsche Bank AG raised its stake in Targa Resources by 200.4% during the third quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company’s stock worth $478,063,000 after acquiring an additional 3,720,270 shares in the last quarter. Morgan Stanley raised its stake in Targa Resources by 16.1% during the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock worth $325,003,000 after acquiring an additional 524,794 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Targa Resources by 1.6% in the third quarter. Jennison Associates LLC now owns 2,487,507 shares of the pipeline company’s stock valued at $213,229,000 after buying an additional 39,143 shares during the period. Finally, FMR LLC raised its holdings in Targa Resources by 3.2% in the 3rd quarter. FMR LLC now owns 2,431,326 shares of the pipeline company’s stock valued at $208,413,000 after buying an additional 74,310 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRGP. JPMorgan Chase & Co. raised their price target on shares of Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Scotiabank raised their price objective on shares of Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 15th. Mizuho lifted their price target on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. UBS Group cut their price objective on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Finally, Stifel Nicolaus lifted their price objective 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.55.

Targa Resources Stock Performance

Shares of Targa Resources stock traded up $0.92 during trading on Wednesday, hitting $116.94. 1,367,155 shares of the company’s stock traded hands, compared to its average volume of 1,738,348. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. Targa Resources Corp. has a 1 year low of $67.36 and a 1 year high of $117.61. The stock has a market capitalization of $26.02 billion, a P/E ratio of 31.86 and a beta of 2.21. The business has a 50-day simple moving average of $107.48 and a 200-day simple moving average of $93.51.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.50 billion. As a group, analysts forecast that Targa Resources Corp. will post 5.77 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, April 29th. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio (DPR) is 54.50%.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total transaction of $244,150.00. Following the sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, CFO Jennifer R. Kneale sold 26,061 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.36, for a total transaction of $2,537,298.96. Following the completion of the transaction, the chief financial officer now owns 227,663 shares in the company, valued at approximately $22,165,269.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is owned by company insiders.

Targa Resources Company 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.