Cozad Asset Management Inc. Invests $341,000 in Targa Resources Corp. (NYSE:TRGP)

Cozad Asset Management Inc. acquired a new position in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,910 shares of the pipeline company’s stock, valued at approximately $341,000.

Several other large investors also recently modified their holdings of TRGP. Oppenheimer & Co. Inc. grew its holdings in shares of Targa Resources by 54.4% in the third quarter. Oppenheimer & Co. Inc. now owns 3,166 shares of the pipeline company’s stock worth $469,000 after acquiring an additional 1,116 shares during the period. Huntington National Bank grew its holdings in Targa Resources by 22.9% during the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares during the period. Natixis Advisors LLC grew its holdings in Targa Resources by 81.0% during the third quarter. Natixis Advisors LLC now owns 45,818 shares of the pipeline company’s stock valued at $6,782,000 after purchasing an additional 20,501 shares during the period. Thrivent Financial for Lutherans grew its holdings in Targa Resources by 51.1% during the third quarter. Thrivent Financial for Lutherans now owns 14,106 shares of the pipeline company’s stock valued at $2,087,000 after purchasing an additional 4,769 shares during the period. Finally, Caprock Group LLC grew its holdings in Targa Resources by 4.9% during the third quarter. Caprock Group LLC now owns 16,461 shares of the pipeline company’s stock valued at $2,436,000 after purchasing an additional 770 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

NYSE:TRGP opened at $194.05 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $42.32 billion, a P/E ratio of 33.81, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 12 month low of $107.31 and a 12 month high of $218.51. The business’s 50-day moving average is $199.40 and its 200 day moving average is $182.29.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. On average, equities research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the sale, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock worth $22,613,288 over the last ninety days. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays boosted their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their price target on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Stifel Nicolaus upped their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $210.50.

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.