International Assets Investment Management LLC Raises Holdings in Targa Resources Corp. (NYSE:TRGP)

International Assets Investment Management LLC lifted its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 15,867.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,737 shares of the pipeline company's stock after buying an additional 89,175 shares during the period. International Assets Investment Management LLC's holdings in Targa Resources were worth $7,795,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TRGP. Moneta Group Investment Advisors LLC raised its holdings in shares of Targa Resources by 104,219.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,241,143 shares of the pipeline company's stock worth $1,855,224,000 after buying an additional 25,216,947 shares in the last quarter. Deutsche Bank AG increased its holdings in Targa Resources by 200.4% in the 3rd quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company's stock worth $478,063,000 after purchasing an additional 3,720,270 shares in the last quarter. Wellington Management Group LLP increased its holdings in Targa Resources by 424.5% in the 1st quarter. Wellington Management Group LLP now owns 3,777,797 shares of the pipeline company's stock worth $285,110,000 after purchasing an additional 3,057,486 shares in the last quarter. Norges Bank acquired a new position in Targa Resources in the 4th quarter worth about $99,690,000. Finally, State Street Corp increased its holdings in Targa Resources by 14.4% in the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company's stock worth $591,455,000 after purchasing an additional 986,283 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TRGP shares. Barclays upped their target price on Targa Resources from $116.00 to $122.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Mizuho upped their target price on Targa Resources from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. UBS Group lowered their target price on Targa Resources from $109.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, January 18th. The Goldman Sachs Group increased their price target on Targa Resources from $105.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada increased their price target on Targa Resources from $106.00 to $109.00 and gave the company an "outperform" rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $115.70.

Insiders Place Their Bets

In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now owns 71,808 shares in the company, valued at $7,012,769.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now owns 71,808 shares in the company, valued at $7,012,769.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jennifer R. Kneale sold 26,061 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.36, for a total value of $2,537,298.96. Following the completion of the sale, the chief financial officer now directly owns 227,663 shares of the company's stock, valued at $22,165,269.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,966 shares of company stock worth $7,987,215. Corporate insiders own 1.39% of the company's stock.

Targa Resources Trading Down 0.6 %

Shares of Targa Resources stock traded down $0.64 on Friday, hitting $114.69. 2,138,635 shares of the company's stock traded hands, compared to its average volume of 1,611,769. Targa Resources Corp. has a one year low of $67.36 and a one year high of $117.61. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The company has a fifty day moving average of $103.22 and a two-hundred day moving average of $91.82. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 31.25 and a beta of 2.21.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. As a group, sell-side analysts expect that Targa Resources Corp. will post 5.75 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 2.62%. This is a positive change from Targa Resources's previous quarterly dividend of $0.50. Targa Resources's dividend payout ratio is presently 81.74%.

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.