Vinva Investment Management Ltd Acquires 4,822 Shares of Targa Resources, Inc. $TRGP

Vinva Investment Management Ltd raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 46.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,105 shares of the pipeline company’s stock after acquiring an additional 4,822 shares during the period. Vinva Investment Management Ltd’s holdings in Targa Resources were worth $2,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TRGP. Cetera Investment Advisers raised its stake in Targa Resources by 15.0% in the first quarter. Cetera Investment Advisers now owns 40,714 shares of the pipeline company’s stock valued at $8,162,000 after purchasing an additional 5,314 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Targa Resources by 319.4% in the 1st quarter. XTX Topco Ltd now owns 6,987 shares of the pipeline company’s stock worth $1,401,000 after buying an additional 5,321 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Targa Resources during the 1st quarter valued at $221,000. NorthRock Partners LLC purchased a new stake in shares of Targa Resources during the 1st quarter valued at $221,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Targa Resources by 11.7% during the 1st quarter. Natixis Advisors LLC now owns 60,871 shares of the pipeline company’s stock worth $12,203,000 after acquiring an additional 6,353 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $175.31 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $163.11 and its 200 day simple moving average is $165.15. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. As a group, analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, October 31st. Targa Resources’s dividend payout ratio (DPR) is 53.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Targa Resources from $240.00 to $261.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Stifel Nicolaus set a $213.00 price objective on Targa Resources in a report on Thursday, November 6th. Scotiabank reduced their price objective on Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Mizuho dropped their target price on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Targa Resources has an average rating of “Moderate Buy” and a consensus target price of $210.21.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the transaction, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.34% of the stock is currently owned by company insiders.

About Targa Resources

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.