Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Position in Targa Resources Corp. (NYSE:TRGP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 360,304 shares of the pipeline company's stock after selling 6,762 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.17% of Targa Resources worth $64,314,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TRGP. MML Investors Services LLC grew its stake in Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock valued at $3,791,000 after buying an additional 10,100 shares in the last quarter. Nordea Investment Management AB raised its stake in Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock valued at $5,070,000 after purchasing an additional 13,167 shares in the last quarter. Cerity Partners LLC lifted its position in Targa Resources by 47.5% during the third quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company's stock valued at $4,277,000 after purchasing an additional 9,307 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after buying an additional 5,431 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in Targa Resources in the 4th quarter worth approximately $271,000. 92.13% of the stock is owned by institutional investors.

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Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of Targa Resources 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. The trade was a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares in the company, valued at approximately $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 ninety days, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TRGP has been the subject of several research reports. Barclays upped their target price on shares of Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley upped their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Scotiabank decreased their price objective on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. US Capital Advisors lowered Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Citigroup lifted their price target on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $211.00.

Targa Resources Trading Up 3.9 %

Shares of Targa Resources stock traded up $7.61 during trading on Monday, reaching $205.01. 1,259,524 shares of the stock were exchanged, compared to its average volume of 1,572,160. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $44.71 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51. The stock's fifty day moving average is $199.93 and its 200 day moving average is $183.75.

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

Targa Resources Dividend Announcement

The business 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. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is currently 52.26%.

About Targa Resources

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.