Targa Resources Corp. (NYSE:TRGP) Shares Sold by Berger Financial Group Inc

Berger Financial Group Inc lessened its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,988 shares of the pipeline company's stock after selling 2,026 shares during the quarter. Berger Financial Group Inc's holdings in Targa Resources were worth $8,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Atala Financial Inc acquired a new stake in shares of Targa Resources in the fourth quarter valued at about $31,000. Rakuten Securities Inc. lifted its position in shares of Targa Resources by 394.6% during 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. purchased a new stake in shares of Targa Resources during the 4th quarter worth approximately $36,000. Aspect Partners LLC boosted its stake in shares of Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of 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 acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling at Targa Resources

In related news, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred 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 directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock worth $22,613,288 in the last quarter. 1.34% of the stock is owned by insiders.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $177.61 on Friday. The business has a fifty day simple moving average of $185.59 and a 200-day simple moving average of $188.07. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The company has a market cap of $38.65 billion, a P/E ratio of 30.94, a P/E/G ratio of 0.61 and a beta of 1.75. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on TRGP. Morgan Stanley boosted their target price on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. 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. Mizuho upped their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective 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. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of "Buy" and a consensus price target of $210.64.

About Targa Resources

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.

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