4,143 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,143 shares of the pipeline company’s stock, valued at approximately $740,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atala Financial Inc purchased a new stake in shares of Targa Resources during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its stake in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares during the last quarter. Mizuho Bank Ltd. bought a new stake in shares of Targa Resources in the 4th quarter worth $36,000. Aspect Partners LLC raised its stake in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were 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 in the company, valued at $141,555,510.24. The trade was a 6.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the transaction, the insider now owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. The trade was a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 in the last three months. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TRGP shares. Morgan Stanley upped their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Barclays raised their target price on shares of Targa Resources from $204.00 to $211.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Scotiabank decreased their target price on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $211.00.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $160.64 on Friday. The firm’s 50 day simple moving average is $197.03 and its two-hundred day simple moving average is $186.50. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market capitalization of $34.95 billion, a P/E ratio of 27.99, a P/E/G ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51.

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

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.87%. Targa Resources’s dividend 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.