Cbre Investment Management Listed Real Assets LLC Has $106.95 Million Stake in Targa Resources, Inc. $TRGP

Cbre Investment Management Listed Real Assets LLC lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 638,333 shares of the pipeline company’s stock after buying an additional 109,170 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.30% of Targa Resources worth $106,946,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in Targa Resources by 9.9% in the third quarter. UBS Group AG now owns 2,360,311 shares of the pipeline company’s stock valued at $395,447,000 after acquiring an additional 212,887 shares during the last quarter. Basso Capital Management L.P. increased its stake in shares of Targa Resources by 8.4% during the 3rd quarter. Basso Capital Management L.P. now owns 6,425 shares of the pipeline company’s stock worth $1,076,000 after purchasing an additional 500 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Targa Resources by 39.1% during the 3rd quarter. Franklin Resources Inc. now owns 836,778 shares of the pipeline company’s stock worth $140,194,000 after purchasing an additional 235,408 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Targa Resources by 7.6% during the 3rd quarter. Van ECK Associates Corp now owns 94,907 shares of the pipeline company’s stock valued at $15,901,000 after purchasing an additional 6,741 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Targa Resources by 18.1% in the 3rd quarter. Bank of Montreal Can now owns 227,123 shares of the pipeline company’s stock valued at $38,052,000 after purchasing an additional 34,818 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRGP. Wells Fargo & Company upped their price objective on shares of Targa Resources from $207.00 to $248.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Citigroup boosted their price target on Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada increased their price objective on Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research note on Tuesday, February 24th. Finally, Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and an average price target of $240.79.

Insider Buying and Selling

In other news, Director Charles R. Crisp sold 1,359 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the sale, the director directly owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jennifer R. Kneale sold 29,509 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total transaction of $6,790,611.08. Following the completion of the sale, the president owned 235,260 shares in the company, valued at approximately $54,138,031.20. The trade was a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is currently owned by company insiders.

Targa Resources Stock Up 1.7%

Targa Resources stock opened at $236.49 on Thursday. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $250.00. The firm has a fifty day moving average price of $208.44 and a two-hundred day moving average price of $182.10. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 0.99 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. As a group, analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is 46.57%.

About Targa Resources

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.