Aviva PLC Sells 55,011 Shares of Targa Resources Corp. (NYSE:TRGP)

Aviva PLC lowered its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,524 shares of the pipeline company's stock after selling 55,011 shares during the quarter. Aviva PLC owned approximately 0.13% of Targa Resources worth $49,717,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Atala Financial Inc acquired a new position in Targa Resources in the 4th quarter worth about $31,000. Rakuten Securities Inc. boosted its position in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after buying an additional 146 shares during the period. Mizuho Bank Ltd. bought a new stake in shares of Targa Resources in the 4th quarter valued at about $36,000. Aspect Partners LLC lifted its stake in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after buying an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after buying an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Down 0.6 %

Shares of TRGP traded down $0.97 during trading hours on Friday, reaching $161.46. 806,261 shares of the stock traded hands, compared to its average volume of 1,717,463. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. 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 stock has a fifty day simple moving average of $192.75 and a 200 day simple moving average of $186.77. The company has a market cap of $35.13 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 0.61 and a beta of 1.75.

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

Targa Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, April 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.30%. Targa Resources's dividend payout ratio is presently 52.26%.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of research reports. Citigroup boosted their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Royal Bank of Canada increased their price objective on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Mizuho raised their target price on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company upped their price target 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, The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $210.64.

Insider Transactions at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the firm'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 transaction of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares in the company, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 in the last ninety days. Company insiders own 1.39% of the company's stock.

Targa Resources Company 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.