Mufg Securities Americas Inc. Takes $575,000 Position in Targa Resources Corp. (NYSE:TRGP)

Mufg Securities Americas Inc. purchased a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,220 shares of the pipeline company's stock, valued at approximately $575,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its holdings in Targa Resources by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. boosted its stake in Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after purchasing an additional 68 shares during the period. Keybank National Association OH grew its holdings in Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after buying an additional 70 shares during the last quarter. Baker Avenue Asset Management LP increased its position in Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock worth $1,648,000 after buying an additional 74 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Targa Resources by 16.5% during the fourth quarter. Huntington National Bank now owns 557 shares of the pipeline company's stock worth $99,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This represents a 29.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 in the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Barclays cut their price objective on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley increased 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. The Goldman Sachs Group cut their price target on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Targa Resources currently has an average rating of "Buy" and a consensus target price of $201.64.

Targa Resources Trading Down 0.7%

Shares of TRGP stock traded down $1.10 during mid-day trading on Monday, reaching $164.59. 1,202,737 shares of the stock traded hands, compared to its average volume of 1,787,062. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 1-year low of $113.65 and a 1-year high of $218.51. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The stock's fifty day simple moving average is $177.28 and its two-hundred day simple moving average is $188.33.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is 73.66%.

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.