Fideuram Asset Management Ireland dac Purchases New Position in Targa Resources, Inc. $TRGP

Fideuram Asset Management Ireland dac purchased a new stake in Targa Resources, Inc. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,644 shares of the pipeline company’s stock, valued at approximately $516,000.

Several other institutional investors have also bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in Targa Resources by 10.5% in the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after buying an additional 50 shares in the last quarter. First Horizon Corp boosted its stake in Targa Resources by 20.1% in the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after buying an additional 57 shares in the last quarter. Larson Financial Group LLC boosted its stake in Targa Resources by 4.1% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after buying an additional 60 shares in the last quarter. Equitable Holdings Inc. boosted its stake in Targa Resources by 3.6% in the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock valued at $287,000 after buying an additional 60 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Targa Resources by 1.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Targa Resources stock opened at $255.14 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The firm has a market cap of $54.76 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.32 and a beta of 0.75. The business’s fifty day moving average is $251.28 and its two-hundred day moving average is $216.18. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $280.00.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. Equities research analysts forecast that Targa Resources, Inc. will post 10.67 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.0%. This is a boost from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, April 30th. Targa Resources’s payout ratio is currently 50.56%.

Insider Activity

In other news, insider Robert Muraro sold 24,589 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the transaction, the insider owned 197,401 shares of the company’s stock, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick J. Mcdonie sold 31,537 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total value of $7,548,696.32. Following the transaction, the insider directly owned 305,163 shares in the company, valued at $73,043,815.68. This trade represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 66,728 shares of company stock valued at $16,196,694 over the last 90 days. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company boosted their price objective on Targa Resources from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. TD Cowen boosted their price objective on Targa Resources from $236.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. US Capital Advisors lowered Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday. Morgan Stanley boosted their price objective on Targa Resources from $327.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Citigroup reissued a “buy” rating on shares of Targa Resources in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and an average target price of $269.21.

About Targa Resources

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.