Fideuram Asset Management Ireland dac Makes New $516,000 Investment in Targa Resources, Inc. $TRGP

Fideuram Asset Management Ireland dac acquired a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,644 shares of the pipeline company’s stock, valued at approximately $516,000.

A number of other institutional investors have also recently bought and sold shares of TRGP. Hantz Financial Services Inc. lifted its holdings in shares of Targa Resources by 10.5% during the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after buying an additional 50 shares during the last quarter. First Horizon Corp lifted its holdings in shares of Targa Resources by 20.1% during the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after buying an additional 57 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Targa Resources by 4.1% during the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after buying an additional 60 shares during the last quarter. Equitable Holdings Inc. lifted its holdings in shares of Targa Resources by 3.6% during the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock valued at $287,000 after buying an additional 60 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Targa Resources by 1.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after buying an additional 64 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Performance

TRGP opened at $255.14 on Friday. The stock has a market cap of $54.76 billion, a PE ratio of 25.80, a P/E/G ratio of 1.32 and a beta of 0.75. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $280.00. The stock’s 50 day simple moving average is $251.28 and its 200-day simple moving average is $216.18.

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

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a dividend of $1.25 per share. This is a boost 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 was Thursday, April 30th. Targa Resources’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TRGP shares. Wells Fargo & Company lifted their price target on Targa Resources from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a report on Friday, February 20th. Scotiabank lifted their price target on Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. US Capital Advisors lowered Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday. Finally, TD Cowen lifted their price target on Targa Resources from $236.00 to $245.00 and gave the company a “hold” rating in a report on Monday, May 11th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.21.

Insider Activity

In other news, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was 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 in the company, valued at approximately $47,640,757.34. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 10,602 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the sale, the director owned 66,492 shares in the company, valued at approximately $17,019,292.32. This represents a 13.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 66,728 shares of company stock worth $16,196,694. Company insiders own 1.37% 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.