Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Basso Capital Management L.P.

Basso Capital Management L.P. raised its position in Targa Resources Corp. (NYSE:TRGP) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,000 shares of the pipeline company’s stock after purchasing an additional 100 shares during the quarter. Targa Resources comprises approximately 0.8% of Basso Capital Management L.P.’s investment portfolio, making the stock its 20th biggest holding. Basso Capital Management L.P.’s holdings in Targa Resources were worth $892,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Atala Financial Inc bought a new stake in Targa Resources during the fourth quarter worth approximately $31,000. Rakuten Securities Inc. grew 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 acquiring an additional 146 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources in the third quarter worth approximately $35,000. Aspect Partners LLC grew its position in Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Targa Resources by 49.4% in the 4th 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 period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % 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, insider D. Scott Pryor sold 35,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 in the last ninety days. 1.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on TRGP shares. Royal Bank of Canada boosted their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus lifted their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Scotiabank reduced 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. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Targa Resources has an average rating of “Buy” and a consensus price target of $206.43.

Targa Resources Stock Up 4.0 %

TRGP stock opened at $190.13 on Monday. The stock has a market capitalization of $41.47 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company has a 50-day moving average of $199.06 and a two-hundred day moving average of $181.60. Targa Resources Corp. has a 52-week low of $106.04 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last announced 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). The business had revenue of $4.41 billion for 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%. As a group, equities research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 52.26%.

Targa Resources 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.