KBC Group NV Has $9.40 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

KBC Group NV boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,682 shares of the pipeline company’s stock after buying an additional 9,101 shares during the period. KBC Group NV’s holdings in Targa Resources were worth $9,404,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Buckley Wealth Management LLC boosted its position in shares of Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock worth $1,469,000 after buying an additional 65 shares during the period. Coldstream Capital Management Inc. lifted its stake in Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after acquiring an additional 66 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 83 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock worth $321,000 after acquiring an additional 84 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TRGP shares. Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America began coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Wells Fargo & Company lifted 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. Scotiabank assumed coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Finally, Morgan Stanley boosted their price target on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. 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 company. According to MarketBeat, Targa Resources has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Price Performance

Shares of TRGP opened at $203.33 on Thursday. The company’s 50-day moving average is $193.44 and its 200-day moving average is $167.69. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market capitalization of $44.34 billion, a PE ratio of 36.77, a PEG ratio of 0.63 and a beta of 2.30. Targa Resources Corp. has a fifty-two week low of $84.33 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last released 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. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm earned $0.97 EPS. Equities analysts forecast that Targa Resources Corp. will post 6.42 EPS for the current year.

Targa Resources Announces Dividend

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

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of Targa Resources 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 completion of the sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% 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.