Targa Resources Corp. (NYSE:TRGP) Insider Sells $5,750,856.54 in Stock

Targa Resources Corp. (NYSE:TRGP - Get Free Report) insider Jennifer R. Kneale sold 29,887 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. This represents a 11.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Targa Resources Price Performance

TRGP stock traded up $5.48 during mid-day trading on Friday, reaching $201.02. 3,502,763 shares of the company traded hands, compared to its average volume of 1,580,779. The company has a fifty day moving average price of $197.95 and a 200-day moving average price of $178.38. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 52-week low of $97.29 and a 52-week high of $218.51. The company has a market capitalization of $43.84 billion, a P/E ratio of 35.02, a P/E/G ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share 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 company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. As a group, analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Targa Resources's dividend payout ratio (DPR) is 52.26%.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Citigroup lifted their price target on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Barclays increased their price objective on Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Scotiabank initiated coverage on Targa Resources in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $205.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRGP. MML Investors Services LLC boosted its holdings in shares of Targa Resources by 65.1% during the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock worth $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB raised its stake in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock valued at $5,070,000 after buying an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after acquiring an additional 5,431 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Targa Resources in the fourth quarter worth $271,000. Finally, Braun Stacey Associates Inc. bought a new position in shares of Targa Resources during the third quarter valued at $11,042,000. 92.13% of the stock is owned by institutional investors.

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.