Schroder Investment Management Group Sells 10,887 Shares of Targa Resources Corp. (NYSE:TRGP)

Schroder Investment Management Group lowered its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,799 shares of the pipeline company's stock after selling 10,887 shares during the quarter. Schroder Investment Management Group's holdings in Targa Resources were worth $4,764,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hilltop Holdings Inc. acquired a new position in Targa Resources during the 3rd quarter valued at approximately $277,000. Janus Henderson Group PLC boosted its position in Targa Resources by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 25,300 shares of the pipeline company's stock worth $3,744,000 after acquiring an additional 108 shares during the period. Integrated Wealth Concepts LLC boosted its position in Targa Resources by 3.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,283 shares of the pipeline company's stock worth $486,000 after acquiring an additional 122 shares during the period. IHT Wealth Management LLC boosted its position in Targa Resources by 17.3% during the 3rd quarter. IHT Wealth Management LLC now owns 2,254 shares of the pipeline company's stock worth $334,000 after acquiring an additional 332 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Targa Resources by 22.4% during the 3rd quarter. Quantinno Capital Management LP now owns 33,549 shares of the pipeline company's stock worth $4,966,000 after acquiring an additional 6,131 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

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Analyst Ratings Changes

TRGP has been the subject of a number of analyst reports. 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 report on Monday, March 17th. Citigroup boosted their price objective on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday. Royal Bank of Canada boosted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Barclays cut their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $210.64.

Insider Transactions at Targa Resources

In other Targa Resources news, 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. This represents a 29.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 2,899 shares of the company's stock, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Down 3.4 %

NYSE TRGP traded down $5.92 on Thursday, reaching $167.73. The stock had a trading volume of 517,030 shares, compared to its average volume of 1,868,531. The business has a 50 day moving average price of $193.55 and a 200 day moving average price of $186.73. 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 Corp. has a 1 year low of $110.09 and a 1 year high of $218.51. The company has a market capitalization of $36.50 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 0.61 and a beta of 1.75.

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

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.79%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

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.