Rockefeller Capital Management L.P. Sells 3,834 Shares of Targa Resources Corp. (NYSE:TRGP)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,678 shares of the pipeline company's stock after selling 3,834 shares during the period. Rockefeller Capital Management L.P.'s holdings in Targa Resources were worth $5,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its holdings in Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock worth $153,124,000 after acquiring an additional 168,602 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Targa Resources by 39.4% in the third quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company's stock worth $1,250,000 after purchasing an additional 2,388 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of Targa Resources by 7.1% in the third quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company's stock worth $464,000 after purchasing an additional 208 shares during the last quarter. Sfmg LLC increased its holdings in Targa Resources by 3.3% during the 3rd quarter. Sfmg LLC now owns 3,131 shares of the pipeline company's stock valued at $463,000 after purchasing an additional 100 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Targa Resources during the 3rd quarter valued at approximately $145,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TRGP shares. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Morgan Stanley boosted their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Mizuho raised their target price on shares of Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $210.64.

Targa Resources Stock Up 1.7 %

NYSE:TRGP traded up $2.91 during trading hours on Wednesday, reaching $173.81. 457,817 shares of the company traded hands, compared to its average volume of 1,722,106. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51. The stock has a market capitalization of $37.82 billion, a P/E ratio of 30.28, a P/E/G ratio of 0.61 and a beta of 1.75. The business's 50-day moving average price is $187.45 and its two-hundred day moving average price is $187.74. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (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 return on equity of 28.67% and a net margin of 7.81%. Analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

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

Insider Activity at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the sale, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now directly 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 sold 115,914 shares of company stock valued at $22,613,288 over the last 90 days. Corporate insiders own 1.34% of the company's stock.

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.