Sustainable Insight Capital Management LLC Makes New Investment in Targa Resources Corp. (NYSE:TRGP)

Sustainable Insight Capital Management LLC purchased a new position in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,900 shares of the pipeline company’s stock, valued at approximately $339,000.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Targa Resources during the second quarter valued at approximately $29,000. DT Investment Partners LLC purchased a new position in Targa Resources during the third quarter valued at $29,000. Prospera Private Wealth LLC bought a new stake in Targa Resources during the third quarter valued at about $35,000. Rosenberg Matthew Hamilton increased its position in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the business’s 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 sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Stock Performance

TRGP opened at $211.58 on Friday. The firm’s 50-day moving average price is $192.80 and its 200-day moving average price is $165.43. The company has a market cap of $46.14 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 0.63 and a beta of 2.30. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52-week low of $83.35 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities analysts anticipate that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

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.