Lansforsakringar Fondforvaltning AB publ Purchases 5,142 Shares of Targa Resources, Inc. $TRGP

Lansforsakringar Fondforvaltning AB publ grew its position in Targa Resources, Inc. (NYSE:TRGP) by 8.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 69,164 shares of the pipeline company’s stock after purchasing an additional 5,142 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Targa Resources were worth $11,588,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TRGP. Tredje AP fonden raised its holdings in Targa Resources by 6.9% in the 3rd quarter. Tredje AP fonden now owns 25,368 shares of the pipeline company’s stock worth $4,250,000 after acquiring an additional 1,633 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Targa Resources in the 3rd quarter worth $1,238,000. Raiffeisen Bank International AG raised its stake in shares of Targa Resources by 56.6% in the third quarter. Raiffeisen Bank International AG now owns 12,736 shares of the pipeline company’s stock worth $2,154,000 after purchasing an additional 4,603 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Targa Resources by 21.8% during the third quarter. NewEdge Wealth LLC now owns 10,784 shares of the pipeline company’s stock valued at $1,754,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Syon Capital LLC purchased a new stake in shares of Targa Resources during the third quarter valued at $213,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other news, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the transaction, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of recent analyst reports. Wall Street Zen lowered Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays reissued an “overweight” rating and set a $226.00 price objective on shares of Targa Resources in a report on Friday. Scotiabank restated an “outperform” rating and issued a $224.00 target price on shares of Targa Resources in a report on Friday, January 16th. Royal Bank Of Canada boosted their target price on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.29.

Targa Resources Stock Up 0.4%

Shares of TRGP stock opened at $232.30 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $233.28. The stock has a market cap of $49.93 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.98 and a beta of 0.88. The company has a 50 day simple moving average of $195.48 and a two-hundred day simple moving average of $176.13.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. On average, research analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a $1.00 dividend. The ex-dividend date was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s dividend payout ratio is presently 46.57%.

Targa Resources 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.