Amova Asset Management Americas Inc. Invests $626,000 in Targa Resources, Inc. $TRGP

Amova Asset Management Americas Inc. acquired a new position in Targa Resources, Inc. (NYSE:TRGP) during the third quarter, Holdings Channel reports. The firm acquired 3,738 shares of the pipeline company’s stock, valued at approximately $626,000.

Several other large investors also recently added to or reduced their stakes in the business. Woodline Partners LP increased its stake in Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after acquiring an additional 5,327 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Targa Resources by 157.4% during the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Targa Resources by 13.1% during the second quarter. Arkadios Wealth Advisors now owns 1,248 shares of the pipeline company’s stock worth $217,000 after purchasing an additional 145 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Targa Resources by 381.6% during the second quarter. Assetmark Inc. now owns 1,469 shares of the pipeline company’s stock worth $256,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Targa Resources by 24.2% in the second quarter. Huntington National Bank now owns 745 shares of the pipeline company’s stock worth $130,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $241.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Morgan Stanley increased their price target on shares of Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday. Scotiabank restated an “outperform” rating on shares of Targa Resources in a research report on Tuesday, February 24th. Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. Finally, Wall Street Zen cut Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.79.

Targa Resources Stock Performance

Targa Resources stock opened at $238.99 on Friday. The firm has a fifty day simple moving average of $204.36 and a two-hundred day simple moving average of $179.93. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $250.00. The company has a market capitalization of $51.37 billion, a PE ratio of 27.82, a P/E/G ratio of 1.04 and a beta of 0.84.

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

Targa Resources Announces Dividend

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

Insider Transactions at Targa Resources

In other Targa Resources news, Director Lindsey Cooksen sold 435 shares of the business’s 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 sale, the director owned 11,670 shares in the company, valued at approximately $2,704,172.40. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Jennifer R. Kneale sold 29,509 shares of the firm’s stock in a transaction that occurred 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 transaction, the president owned 235,260 shares in the company, valued at $54,138,031.20. This represents a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 80,340 shares of company stock valued at $18,757,824. 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.