Vanguard Group Inc. Has $4.85 Billion Holdings in Targa Resources Corp. (NYSE:TRGP)

Vanguard Group Inc. raised its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,160,608 shares of the pipeline company's stock after purchasing an additional 150,038 shares during the quarter. Vanguard Group Inc. owned approximately 12.46% of Targa Resources worth $4,848,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atala Financial Inc bought a new stake in shares of Targa Resources during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its position 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 worth $33,000 after purchasing an additional 146 shares during the last quarter. Aspect Partners LLC grew its stake in shares of Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after purchasing an additional 130 shares during the period. Rosenberg Matthew Hamilton increased its holdings in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after purchasing an additional 89 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Targa Resources during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded down $3.48 on Wednesday, hitting $202.09. The company had a trading volume of 649,648 shares, compared to its average volume of 1,566,192. The stock has a 50 day moving average price of $200.01 and a 200 day moving average price of $184.16. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market cap of $44.08 billion, a price-to-earnings ratio of 35.10, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51.

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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 for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio is 52.26%.

Insiders Place Their Bets

In related news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 in the last 90 days. Company insiders own 1.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TRGP. The Goldman Sachs Group upped their price target on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Scotiabank reduced their target price on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada lifted their price objective on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Citigroup increased their target price on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. 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 data from MarketBeat, Targa Resources has a consensus rating of "Buy" and a consensus price target of $211.00.

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.