Kovitz Investment Group Partners LLC Has $5.21 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Kovitz Investment Group Partners LLC lowered its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,199 shares of the pipeline company's stock after selling 1,933 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Targa Resources were worth $5,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after buying an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Targa Resources by 191.4% during the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after acquiring an additional 5,431 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Targa Resources during the fourth quarter valued at approximately $271,000. Segment Wealth Management LLC increased its stake in Targa Resources by 2,753.4% in the fourth quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock valued at $9,876,000 after purchasing an additional 53,389 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Targa Resources by 133.4% in the fourth quarter. Diversified Trust Co now owns 11,475 shares of the pipeline company's stock worth $2,048,000 after purchasing an additional 6,558 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Up 0.3 %

NYSE TRGP opened at $177.61 on Friday. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month 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 50 day moving average of $185.59 and a 200-day moving average of $188.07. The company has a market cap of $38.65 billion, a PE ratio of 30.94, a PEG ratio of 0.61 and a beta of 1.75.

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

Targa Resources Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $1.00 dividend. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's payout ratio is 69.69%.

Insider Transactions at Targa Resources

In other news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,914 shares of company stock worth $22,613,288. 1.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wells Fargo & Company increased their price target on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Barclays lowered their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Mizuho lifted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Morgan Stanley increased their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $210.64.

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.

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