Targa Resources Corp. (NYSE:TRGP) Stock Position Lifted by Aquatic Capital Management LLC

Aquatic Capital Management LLC increased its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 63.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,480 shares of the pipeline company's stock after acquiring an additional 29,680 shares during the quarter. Aquatic Capital Management LLC's holdings in Targa Resources were worth $13,652,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRGP. Atala Financial Inc acquired a new position in shares of Targa Resources in the 4th quarter valued at $31,000. Rakuten Securities Inc. increased its holdings in shares of Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after acquiring an additional 146 shares during the period. Mizuho Bank Ltd. acquired a new position in Targa Resources in the 4th quarter valued at $36,000. Aspect Partners LLC increased its stake in Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after buying an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after buying an additional 89 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. The trade was a 43.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,914 shares of company stock worth $22,613,288. 1.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TRGP has been the topic of several recent research reports. 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 note on Monday, March 17th. Scotiabank dropped their target price on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Citigroup increased their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Barclays dropped their target price on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources presently has an average rating of "Buy" and an average target price of $210.07.

Targa Resources Trading Up 1.0 %

Shares of TRGP traded up $1.76 during mid-day trading on Monday, reaching $179.38. The company had a trading volume of 1,363,174 shares, compared to its average volume of 1,731,384. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The firm has a fifty day simple moving average of $184.97 and a 200-day simple moving average of $188.34. Targa Resources Corp. has a fifty-two week low of $110.09 and a fifty-two week high of $218.51. 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 for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

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

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.