OMERS ADMINISTRATION Corp Acquires 1,506 Shares of Targa Resources Corp. (NYSE:TRGP)

OMERS ADMINISTRATION Corp increased its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 20.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,841 shares of the pipeline company's stock after purchasing an additional 1,506 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Targa Resources were worth $1,578,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in shares of Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after acquiring an additional 162 shares during the period. Atala Financial Inc purchased a new position in Targa Resources in the fourth quarter worth about $31,000. Cary Street Partners Financial LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at about $31,000. Rakuten Securities Inc. increased its position in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after purchasing an additional 146 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new position in shares of Targa Resources in the 4th quarter worth approximately $36,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRGP shares. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Barclays lowered their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Mizuho decreased their price objective on Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Scotiabank cut their price objective on Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group decreased their target price on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $201.64.

Insider Activity

In other news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction 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. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. This represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Price Performance

Shares of TRGP traded down $1.10 during midday trading on Monday, hitting $164.59. 1,202,737 shares of the company traded hands, compared to its average volume of 1,787,062. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 0.61 and a beta of 1.22. The firm has a 50 day moving average of $177.28 and a 200-day moving average of $188.33. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52 week low of $113.65 and a 52 week high of $218.51.

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

Targa Resources Dividend Announcement

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