Natixis Advisors L.P. Buys New Shares in Targa Resources Corp. (NYSE:TRGP)

Natixis Advisors L.P. acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,865 shares of the pipeline company's stock, valued at approximately $1,117,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC bought a new stake in Targa Resources during the 4th quarter worth $27,000. VisionPoint Advisory Group LLC increased its stake in shares of Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company's stock valued at $34,000 after buying an additional 209 shares during the period. Rational Advisors LLC acquired a new stake in shares of Targa Resources in the third quarter valued at about $43,000. Huntington National Bank increased its stake in shares of Targa Resources by 124.4% in the third quarter. Huntington National Bank now owns 534 shares of the pipeline company's stock valued at $46,000 after buying an additional 296 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Targa Resources by 36.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company's stock valued at $48,000 after buying an additional 150 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Up 0.5 %

NYSE:TRGP traded up $0.55 on Thursday, hitting $116.13. The stock had a trading volume of 1,256,939 shares, compared to its average volume of 1,695,423. The business's fifty day moving average is $112.23 and its 200 day moving average is $96.46. The company has a market cap of $25.75 billion, a PE ratio of 24.02 and a beta of 2.19. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 52 week low of $67.36 and a 52 week high of $117.87.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. On average, equities research analysts expect that Targa Resources Corp. will post 5.61 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, April 29th. This is a positive change from Targa Resources's previous quarterly dividend of $0.50. Targa Resources's dividend payout ratio (DPR) is currently 61.73%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TRGP shares. Scotiabank increased their price target on Targa Resources from $112.00 to $128.00 and gave the company a "sector outperform" rating in a research note on Monday, April 15th. Royal Bank of Canada increased their price target on Targa Resources from $123.00 to $128.00 and gave the company an "outperform" rating in a research note on Thursday. The Goldman Sachs Group upped their target price on Targa Resources from $105.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. Mizuho upped their target price on Targa Resources from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company upped their target price on Targa Resources from $109.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.50.

Insider Activity

In other news, insider D. Scott Pryor sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $113.13, for a total value of $2,262,600.00. Following the transaction, the insider now owns 136,098 shares in the company, valued at $15,396,766.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the sale, the insider now directly owns 136,098 shares of the company's stock, valued at $15,396,766.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joe Bob Perkins sold 33,405 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total value of $3,262,666.35. Following the sale, the director now directly owns 38,440 shares of the company's stock, valued at $3,754,434.80. The disclosure for this sale can be found here. Insiders have sold 114,657 shares of company stock worth $11,680,978 over the last 90 days. 1.44% of the stock is currently owned by corporate 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.