68,494 Shares in Targa Resources, Inc. $TRGP Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. purchased a new position in Targa Resources, Inc. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,494 shares of the pipeline company’s stock, valued at approximately $12,644,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Targa Resources by 1.5% in the third quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock worth $4,755,169,000 after purchasing an additional 422,075 shares during the last quarter. Wellington Management Group LLP increased its position in Targa Resources by 9.0% in the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock worth $3,291,012,000 after purchasing an additional 1,620,253 shares during the last quarter. Geode Capital Management LLC increased its position in Targa Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after purchasing an additional 45,495 shares during the last quarter. UBS Group AG increased its position 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 worth $395,447,000 after purchasing an additional 212,887 shares during the last quarter. Finally, Northern Trust Corp increased its position in Targa Resources by 4.1% in the third quarter. Northern Trust Corp now owns 2,175,544 shares of the pipeline company’s stock worth $364,491,000 after purchasing an additional 84,757 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRGP shares. Mizuho boosted their price target on shares of Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. US Capital Advisors cut shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday. Citigroup reaffirmed a “buy” rating on shares of Targa Resources in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Targa Resources from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their price objective on shares of Targa Resources from $327.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.21.

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 10,602 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director directly owned 66,492 shares of the company’s stock, valued at approximately $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the sale, the insider directly owned 197,401 shares of the company’s stock, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is currently owned by insiders.

Targa Resources Stock Up 0.0%

NYSE TRGP opened at $255.14 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The company has a fifty day moving average of $251.28 and a two-hundred day moving average of $216.51. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.32 and a beta of 0.72. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $280.00.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. On average, analysts predict that Targa Resources, Inc. will post 10.67 earnings per share for the current year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $1.25 per share. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, April 30th. Targa Resources’s payout ratio is presently 50.56%.

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.