APG Asset Management N.V. Has $1.80 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

APG Asset Management N.V. cut its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,439 shares of the pipeline company's stock after selling 2,519 shares during the period. APG Asset Management N.V.'s holdings in Targa Resources were worth $1,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Targa Resources by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock valued at $4,848,169,000 after purchasing an additional 150,038 shares during the period. Geode Capital Management LLC boosted its position in shares of Targa Resources by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock valued at $1,056,187,000 after acquiring an additional 212,986 shares during the period. Norges Bank acquired a new position in shares of Targa Resources in the fourth quarter valued at about $505,132,000. GQG Partners LLC bought a new position in Targa Resources during the fourth quarter worth about $393,335,000. Finally, Amundi raised its stake in Targa Resources by 20.9% in the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company's stock worth $353,469,000 after purchasing an additional 318,261 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TRGP. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Morgan Stanley upped their target price on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Royal Bank of Canada raised their price target on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Scotiabank cut their price objective on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. 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 research report on Wednesday, April 9th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus target price of $210.64.

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Targa Resources Price Performance

TRGP traded up $3.23 on Tuesday, reaching $167.96. The stock had a trading volume of 1,387,241 shares, compared to its average volume of 1,722,452. 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 company has a market capitalization of $36.55 billion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a fifty-two week low of $110.09 and a fifty-two week high of $218.51. The firm has a 50-day moving average of $191.23 and a 200-day moving average of $187.23.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data 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). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. As a group, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.29%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Insider Transactions at Targa Resources

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the sale, the director now owns 2,899 shares of the company's stock, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 over the last ninety days. 1.39% of the stock is owned by insiders.

Targa Resources 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.