Union Bancaire Privee UBP SA Acquires 22,870 Shares of Targa Resources, Inc. $TRGP

Union Bancaire Privee UBP SA raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 625.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 26,526 shares of the pipeline company’s stock after acquiring an additional 22,870 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Targa Resources were worth $4,894,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Targa Resources by 10.3% in the fourth quarter. GAMMA Investing LLC now owns 4,950 shares of the pipeline company’s stock valued at $913,000 after purchasing an additional 461 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Targa Resources by 36.1% in the 4th quarter. Rosenberg Matthew Hamilton now owns 366 shares of the pipeline company’s stock valued at $68,000 after buying an additional 97 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Targa Resources by 755.2% in the third quarter. Groupama Asset Managment now owns 11,494 shares of the pipeline company’s stock valued at $1,926,000 after buying an additional 10,150 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Targa Resources by 3.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,007,421 shares of the pipeline company’s stock valued at $168,783,000 after buying an additional 37,065 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Targa Resources during the third quarter worth about $4,984,000. Institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other news, insider Robert Muraro sold 24,589 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the transaction, the insider owned 197,401 shares of the company’s stock, valued at $47,640,757.34. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the sale, the director directly owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is owned by company insiders.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $237.72 on Friday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $250.00. The stock’s 50 day moving average is $216.63 and its 200-day moving average is $185.55. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. The firm has a market capitalization of $51.10 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.57 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.12 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio is currently 46.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of Targa Resources in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. TD Cowen upped their price objective on shares of Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $242.00 target price on shares of Targa Resources in a research note on Friday, February 20th. Finally, Stifel Nicolaus boosted their target price on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.54.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.