KBC Group NV Has $6.45 Million Position in Targa Resources Corp. (NYSE:TRGP)

KBC Group NV grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 183.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,581 shares of the pipeline company’s stock after purchasing an additional 28,225 shares during the quarter. KBC Group NV’s holdings in Targa Resources were worth $6,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Vanguard Group Inc. grew its stake in shares of Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock worth $3,025,521,000 after purchasing an additional 201,817 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Targa Resources in the second quarter valued at about $2,323,000. Cetera Investment Advisers raised its position in shares of Targa Resources by 215.2% during the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock worth $3,478,000 after acquiring an additional 21,200 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Targa Resources by 6.5% in the first quarter. California State Teachers Retirement System now owns 444,530 shares of the pipeline company’s stock worth $49,783,000 after acquiring an additional 27,164 shares during the period. Finally, Virtu Financial LLC bought a new stake in Targa Resources in the first quarter valued at approximately $1,151,000. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Up 2.3 %

NYSE TRGP opened at $196.04 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $197.14. The business has a 50 day moving average price of $163.51 and a 200-day moving average price of $140.95. The company has a market cap of $42.75 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 0.78 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business posted $0.97 EPS. As a group, equities analysts expect that Targa Resources Corp. will post 6.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. Targa Resources’s dividend payout ratio is presently 54.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Morgan Stanley boosted their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $169.79.

Insider Activity at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Muraro sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the transaction, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,760 shares of company stock valued at $30,026,712. 1.39% of the stock is owned by corporate insiders.

Targa Resources 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.