SG Americas Securities LLC lessened its holdings in shares of 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 Securities & Exchange Commission. The institutional investor owned 4,541 shares of the pipeline company's stock after selling 1,850 shares during the quarter. SG Americas Securities LLC's holdings in Targa Resources were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. MML Investors Services LLC raised its position in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock worth $3,791,000 after acquiring an additional 10,100 shares in the last quarter. Nordea Investment Management AB raised its holdings in Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after purchasing an additional 13,167 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in Targa Resources in the third quarter worth $11,042,000. Capital Investment Advisors LLC lifted its position in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock valued at $1,476,000 after buying an additional 5,431 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in shares of Targa Resources by 12.7% during the 3rd quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company's stock valued at $3,784,000 after buying an additional 2,890 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.
Targa Resources Stock Performance
Shares of TRGP stock traded up $2.28 on Thursday, reaching $205.14. The stock had a trading volume of 1,022,519 shares, compared to its average volume of 1,503,185. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 1 year low of $84.33 and a 1 year high of $218.51. The stock has a market cap of $44.73 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 0.63 and a beta of 2.30. The company has a 50 day simple moving average of $193.45 and a 200 day simple moving average of $167.94.
Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $4.24 billion. During the same period last year, the firm posted $0.97 earnings per share. Equities research analysts expect that Targa Resources Corp. will post 6.42 EPS for the current year.
Targa Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.46%. Targa Resources's payout ratio is presently 54.25%.
Wall Street Analysts Forecast Growth
TRGP has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. UBS Group upped their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price target 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, Bank of America began coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a "buy" rating and a $182.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and a consensus price target of $189.21.
Check Out Our Latest Report on TRGP
Insider Transactions at Targa Resources
In other news, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction 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 sale, the insider now directly owns 82,979 shares of the company's stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of Targa Resources 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 transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.
Targa Resources Company Profile
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Free Report)
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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