Dynamic Technology Lab Private Ltd lowered its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 83.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,210 shares of the pipeline company's stock after selling 11,491 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Targa Resources were worth $395,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in shares of Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after purchasing an additional 66 shares during the period. Fisher Asset Management LLC increased its holdings in Targa Resources by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after buying an additional 67 shares in the last quarter. Mather Group LLC. raised its position in shares of Targa Resources by 2.3% in the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after acquiring an additional 68 shares during the period. Keybank National Association OH boosted its stake in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after acquiring an additional 70 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Targa Resources by 16.5% during the 4th quarter. Huntington National Bank now owns 557 shares of the pipeline company's stock valued at $99,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.
Targa Resources Trading Up 2.8 %
Targa Resources stock traded up $4.60 during midday trading on Tuesday, hitting $169.33. 343,394 shares of the stock were exchanged, compared to its average volume of 1,719,146. 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 capitalization of $36.84 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 0.61 and a beta of 1.75. The stock's 50-day simple moving average is $191.23 and its 200 day simple moving average is $187.23. Targa Resources Corp. has a fifty-two week low of $110.09 and a fifty-two week high of $218.51.
Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The business 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, equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.
Targa Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, April 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.28%. Targa Resources's dividend payout ratio is presently 52.26%.
Analyst Ratings Changes
A number of equities analysts have issued reports on TRGP shares. Citigroup increased their price target on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Barclays decreased their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Mizuho increased their price objective 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, Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $210.64.
View Our Latest Research Report on Targa Resources
Insider Transactions at Targa Resources
In other news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. The trade was a 29.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is currently owned by company insiders.
Targa Resources Company Profile
(
Free Report)
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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