iA Global Asset Management Inc. Purchases 7,189 Shares of Targa Resources, Inc. $TRGP

iA Global Asset Management Inc. lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 50.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,358 shares of the pipeline company’s stock after purchasing an additional 7,189 shares during the quarter. iA Global Asset Management Inc.’s holdings in Targa Resources were worth $3,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avidian Wealth Enterprises LLC grew its position in Targa Resources by 23.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,818 shares of the pipeline company’s stock worth $305,000 after buying an additional 346 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Targa Resources in the 3rd quarter valued at about $1,389,000. Inscription Capital LLC boosted its position in shares of Targa Resources by 3.1% during the 3rd quarter. Inscription Capital LLC now owns 12,001 shares of the pipeline company’s stock valued at $2,011,000 after acquiring an additional 358 shares during the last quarter. Americana Partners LLC grew its holdings in shares of Targa Resources by 1.7% during the third quarter. Americana Partners LLC now owns 74,098 shares of the pipeline company’s stock worth $12,414,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Targa Resources in the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRGP. Stifel Nicolaus set a $213.00 price target on shares of Targa Resources in a research note on Thursday, November 6th. Morgan Stanley raised their price objective on shares of Targa Resources from $240.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. The Goldman Sachs Group restated a “buy” rating and set a $196.00 price target on shares of Targa Resources in a research report on Monday, January 12th. Finally, Wells Fargo & Company lifted their price target on Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average target price of $213.14.

Targa Resources Stock Performance

NYSE TRGP opened at $191.65 on Friday. The company has a 50-day simple moving average of $179.80 and a two-hundred day simple moving average of $169.31. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $213.19. The firm has a market cap of $41.14 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 0.82 and a beta of 0.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a return on equity of 51.87% and a net margin of 9.35%. On average, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a $1.00 dividend. The ex-dividend date is Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 2.1%. Targa Resources’s payout ratio is presently 53.19%.

Insider Activity at Targa Resources

In related news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider directly owned 29,561 shares in the company, valued at $5,356,748.81. This represents a 8.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the sale, the insider directly owned 22,139 shares of the company’s stock, valued at $3,812,557.19. The trade was a 47.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.34% of the company’s stock.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.