National Bank of Canada FI Decreases Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

National Bank of Canada FI reduced its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 67.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 193,648 shares of the pipeline company's stock after selling 410,464 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Targa Resources worth $34,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Atala Financial Inc bought a new position in Targa Resources during the 4th quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its stake in shares of Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after purchasing an additional 146 shares during the period. Aspect Partners LLC grew 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 worth $39,000 after purchasing an additional 130 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after purchasing an additional 89 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Targa Resources during the fourth quarter valued at $49,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction 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 trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 82,139 shares of the company's stock, valued at $16,206,024.70. The trade was a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 over the last ninety days. 1.39% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRGP. Mizuho raised their price target on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley boosted their price target on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Royal Bank of Canada increased their price objective on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. The Goldman Sachs Group boosted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Barclays raised their price target on shares of Targa Resources from $204.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $211.00.

Targa Resources Stock Performance

NYSE:TRGP traded up $1.24 during mid-day trading on Monday, hitting $162.43. 2,086,937 shares of the company traded hands, compared to its average volume of 1,763,158. 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's fifty day moving average price is $197.03 and its 200-day moving average price is $186.74. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a one year low of $110.09 and a one year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.48 billion. Research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced 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 1.85%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio 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.