Vinva Investment Management Ltd Acquires 4,051 Shares of Targa Resources, Inc. $TRGP

Vinva Investment Management Ltd lifted its holdings in Targa Resources, Inc. (NYSE:TRGP) by 26.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,156 shares of the pipeline company’s stock after buying an additional 4,051 shares during the period. Vinva Investment Management Ltd’s holdings in Targa Resources were worth $3,239,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its holdings in shares of Targa Resources by 20.7% in the 3rd quarter. Natixis Advisors LLC now owns 80,964 shares of the pipeline company’s stock valued at $13,565,000 after acquiring an additional 13,872 shares during the last quarter. Korea Investment CORP increased its stake in Targa Resources by 37.4% during the third quarter. Korea Investment CORP now owns 260,760 shares of the pipeline company’s stock worth $43,688,000 after acquiring an additional 70,998 shares during the last quarter. Blair William & Co. IL increased its stake in Targa Resources by 33.1% during the third quarter. Blair William & Co. IL now owns 40,013 shares of the pipeline company’s stock worth $6,704,000 after acquiring an additional 9,940 shares during the last quarter. HUB Investment Partners LLC raised its position in Targa Resources by 60.6% during the third quarter. HUB Investment Partners LLC now owns 4,122 shares of the pipeline company’s stock valued at $691,000 after purchasing an additional 1,555 shares during the period. Finally, Amova Asset Management Americas Inc. purchased a new stake in Targa Resources during the third quarter valued at approximately $626,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles R. Crisp sold 1,359 shares of the business’s 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 owned 77,094 shares in the company, valued at approximately $17,677,654.20. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lindsey Cooksen sold 435 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $231.72, for a total value of $100,798.20. Following the completion of the transaction, the director directly owned 11,670 shares in the company, valued at approximately $2,704,172.40. This trade represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 104,929 shares of company stock valued at $24,692,134. Insiders own 1.34% of the company’s stock.

Targa Resources Trading Down 1.1%

NYSE TRGP opened at $234.55 on Tuesday. The stock has a market cap of $50.42 billion, a PE ratio of 27.31, a PEG ratio of 1.01 and a beta of 0.84. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $250.00. The company’s 50-day moving average price is $206.47 and its 200-day moving average price is $181.23. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21.

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

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s payout ratio is currently 46.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRGP. UBS Group reiterated a “buy” rating on shares of Targa Resources in a report on Friday, January 9th. BMO Capital Markets restated an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a report on Friday, February 20th. The Goldman Sachs Group restated a “buy” rating and issued a $242.00 price target on shares of Targa Resources in a research report on Friday, February 20th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Citigroup boosted their price objective on shares of Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.79.

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.