International Assets Investment Management LLC Sells 203,031 Shares of Targa Resources Corp. (NYSE:TRGP)

International Assets Investment Management LLC decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 99.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,223 shares of the pipeline company's stock after selling 203,031 shares during the period. International Assets Investment Management LLC's holdings in Targa Resources were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRGP. Strategic Investment Solutions Inc. IL bought a new position in Targa Resources during the 2nd quarter valued at about $29,000. DT Investment Partners LLC acquired a new stake in shares of Targa Resources during the third quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new position in shares of Targa Resources in the third quarter valued at approximately $35,000. Huntington National Bank boosted its holdings in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock worth $71,000 after acquiring an additional 89 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Targa Resources by 36.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 532 shares of the pipeline company's stock worth $79,000 after acquiring an additional 141 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

TRGP has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Stifel Nicolaus increased their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Finally, US Capital Advisors cut shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus price target of $189.21.

Targa Resources Trading Up 1.7 %

NYSE TRGP traded up $3.42 on Tuesday, reaching $200.89. The company had a trading volume of 1,625,315 shares, compared to its average volume of 1,478,675. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87. The stock's 50 day moving average is $190.21 and its 200-day moving average is $162.26. 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 stock has a market cap of $43.81 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 0.73 and a beta of 2.30.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $4.24 billion. During the same period in the prior year, the business posted $0.97 EPS. Equities analysts predict that Targa Resources Corp. will post 6.26 earnings per share for the current year.

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.