Zurcher Kantonalbank Zurich Cantonalbank Has $3.08 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,454 shares of the pipeline company’s stock after selling 844 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Targa Resources were worth $3,080,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. VisionPoint Advisory Group LLC increased its stake in shares of Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 209 shares during the last quarter. Rational Advisors LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth $43,000. Huntington National Bank increased its stake in shares of Targa Resources by 124.4% during the 3rd quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 296 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Targa Resources by 36.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 150 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Targa Resources by 77.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 850 shares of the pipeline company’s stock valued at $73,000 after buying an additional 371 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In other news, insider Robert Muraro sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the completion of the transaction, the insider now directly owns 219,451 shares of the company’s stock, valued at approximately $21,354,776.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the completion of the transaction, the insider now directly owns 219,451 shares of the company’s stock, valued at approximately $21,354,776.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer R. Kneale sold 26,061 shares of Targa Resources stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.36, for a total transaction of $2,537,298.96. Following the transaction, the chief financial officer now directly owns 227,663 shares of the company’s stock, valued at $22,165,269.68. The disclosure for this sale can be found here. In the last three months, insiders sold 81,966 shares of company stock valued at $7,987,215. Company insiders own 1.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRGP shares. The Goldman Sachs Group raised their target price on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Mizuho raised their target price on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus raised their target price on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, UBS Group lowered their target price on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and a consensus target price of $119.55.

Targa Resources Price Performance

NYSE:TRGP opened at $113.51 on Tuesday. The company has a 50-day moving average of $106.35 and a 200-day moving average of $93.10. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 30.93 and a beta of 2.21. Targa Resources Corp. has a 52 week low of $67.36 and a 52 week high of $117.61. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. As a group, equities research analysts anticipate that Targa Resources Corp. will post 5.77 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources’s dividend payout ratio (DPR) is presently 54.50%.

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.