Pacer Advisors Inc. Has $7.20 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Pacer Advisors Inc. boosted its position in Targa Resources Corp. (NYSE:TRGP) by 23.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,353 shares of the pipeline company’s stock after purchasing an additional 7,654 shares during the period. Pacer Advisors Inc.’s holdings in Targa Resources were worth $7,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MML Investors Services LLC lifted its position in shares of Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after buying an additional 10,100 shares during the last quarter. Nordea Investment Management AB raised its stake in Targa Resources by 85.7% in the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after acquiring an additional 13,167 shares during the period. Braun Stacey Associates Inc. acquired a new stake in Targa Resources during the 3rd quarter valued at $11,042,000. Capital Investment Advisors LLC boosted its position in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after purchasing an additional 5,431 shares during the period. Finally, Metis Global Partners LLC increased its holdings in shares of Targa Resources by 12.7% in the third quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company’s stock valued at $3,784,000 after purchasing an additional 2,890 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRGP shares. Bank of America began coverage on shares of Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. UBS Group upped their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley lifted their price target on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays upped their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $189.21.

Insider Buying and Selling

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Up 0.5 %

Shares of TRGP opened at $203.33 on Thursday. The firm has a 50 day simple moving average of $193.44 and a two-hundred day simple moving average of $167.69. The company has a market cap of $44.34 billion, a P/E ratio of 36.77, a P/E/G ratio of 0.63 and a beta of 2.30. Targa Resources Corp. has a one year low of $84.33 and a one year high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $0.97 EPS. Research analysts forecast that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.