Targa Resources Corp. (NYSE:TRGP) Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC cut its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 458,188 shares of the pipeline company's stock after selling 89,870 shares during the period. Targa Resources comprises about 1.4% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 22nd biggest position. Cbre Investment Management Listed Real Assets LLC owned approximately 0.21% of Targa Resources worth $81,787,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of TRGP. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the third quarter valued at about $35,000. Aspect Partners LLC lifted its position in shares of 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 acquiring an additional 130 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after acquiring an additional 89 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Targa Resources in the fourth quarter valued at about $49,000. Finally, Assetmark Inc. lifted its position in shares of Targa Resources by 1,812.5% in the fourth quarter. Assetmark Inc. now owns 306 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 290 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Scotiabank assumed coverage on Targa Resources in a report on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 target price on the stock. UBS Group lifted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Royal Bank of Canada lifted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a report on Monday. The Goldman Sachs Group lifted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Truist Financial reduced their target price on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, December 13th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $207.00.

Targa Resources Trading Down 1.8 %

Shares of NYSE:TRGP traded down $3.34 during trading hours on Wednesday, hitting $186.67. 2,375,761 shares of the company's stock traded hands, compared to its average volume of 1,635,470. Targa Resources Corp. has a 1 year low of $103.04 and a 1 year high of $218.51. The business has a fifty day moving average price of $198.60 and a 200-day moving average price of $179.41. The firm has a market capitalization of $40.71 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

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 (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. Targa Resources's payout ratio is 52.26%.

Insider Activity at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction 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 completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was 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 of the company's stock, valued at approximately $568,957.74. This represents a 43.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,914 shares of company stock worth $22,613,288. 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.