Stevens Capital Management LP Acquires Shares of 2,442 Targa Resources Corp. (NYSE:TRGP)

Stevens Capital Management LP purchased a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,442 shares of the pipeline company's stock, valued at approximately $436,000.

Several other institutional investors have also added to or reduced their stakes in TRGP. Atala Financial Inc purchased a new position in shares of Targa Resources during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its holdings in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after acquiring an additional 146 shares in the last quarter. Aspect Partners LLC increased its position in Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $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 4th 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 stake in shares of Targa Resources in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Insider Activity at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at $141,555,510.24. This represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by company insiders.

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Analyst Ratings Changes

A number of research firms recently issued reports on TRGP. Wells Fargo & Company increased their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price target on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Morgan Stanley boosted their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Finally, Mizuho increased their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and a consensus target price of $211.00.

Targa Resources Stock Performance

TRGP stock traded up $0.24 on Tuesday, hitting $205.20. The company had a trading volume of 1,428,305 shares, compared to its average volume of 1,570,742. 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 12-month low of $110.09 and a 12-month high of $218.51. The stock has a market cap of $44.76 billion, a price-to-earnings ratio of 35.75, a P/E/G ratio of 0.61 and a beta of 2.32. The stock's 50-day simple moving average is $199.93 and its 200 day simple moving average is $183.75.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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 analysts' expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities research analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is 52.26%.

Targa Resources Company 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.