SageView Advisory Group LLC Takes $630,000 Position in Targa Resources Corp. (NYSE:TRGP)

SageView Advisory Group LLC purchased a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,531 shares of the pipeline company's stock, valued at approximately $630,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its position in shares of Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after buying an additional 67 shares in the last quarter. Mather Group LLC. lifted its holdings in Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after acquiring an additional 68 shares during the period. Keybank National Association OH boosted its position in Targa Resources by 0.4% in the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank increased its position in shares of Targa Resources by 16.5% during the 4th quarter. Huntington National Bank now owns 557 shares of the pipeline company's stock valued at $99,000 after purchasing an additional 79 shares during the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Targa Resources by 3.9% during the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock worth $400,000 after purchasing an additional 85 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Activity

In related news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares of the company's stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. Corporate insiders own 1.34% of the company's stock.

Analyst Ratings Changes

TRGP has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Scotiabank cut their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley raised their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Finally, US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Targa Resources has an average rating of "Buy" and an average target price of $210.64.

Targa Resources Trading Up 1.0 %

NYSE:TRGP traded up $1.80 during midday trading on Friday, reaching $174.48. 1,975,788 shares of the stock traded hands, compared to its average volume of 1,724,451. The stock has a market capitalization of $37.97 billion, a P/E ratio of 30.40, a PEG ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a fifty day moving average of $189.42 and a 200 day moving average of $187.18.

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

Targa Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.28%. Targa Resources's dividend payout ratio (DPR) is presently 69.69%.

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.