Candriam S.C.A. Has $5.01 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Candriam S.C.A. increased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 20.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,054 shares of the pipeline company’s stock after buying an additional 4,764 shares during the quarter. Candriam S.C.A.’s holdings in Targa Resources were worth $5,008,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its stake in shares of Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares during the period. Fisher Asset Management LLC raised its stake in shares of Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 67 shares during the period. Mather Group LLC. raised its stake in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares during the period. Keybank National Association OH raised its stake in shares of Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insiders Place Their Bets

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, the director now directly owns 2,899 shares in the company, valued at $568,957.74. This represents a 43.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 over the last three months. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

TRGP has been the topic of several recent research reports. UBS Group lifted their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada lifted their target price on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup lifted their target price on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company lifted their target price on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $206.43.

Targa Resources Price Performance

Targa Resources stock opened at $181.93 on Friday. Targa Resources Corp. has a 12 month low of $103.18 and a 12 month high of $218.51. The stock’s 50 day moving average is $198.77 and its 200-day moving average is $179.95. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $39.68 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is presently 52.26%.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.