Targa Resources Corp. (NYSE:TRGP) Shares Sold by USA Financial Formulas

USA Financial Formulas decreased its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,406 shares of the pipeline company's stock after selling 1,228 shares during the quarter. USA Financial Formulas' holdings in Targa Resources were worth $1,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Buckley Wealth Management LLC grew its position in Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock valued at $1,469,000 after buying an additional 65 shares during the period. Coldstream Capital Management Inc. grew its stake in Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after acquiring an additional 66 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Targa Resources by 9.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company's stock worth $138,000 after buying an additional 83 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Targa Resources by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock valued at $321,000 after purchasing an additional 84 shares during the period. Finally, Huntington National Bank grew its stake in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock valued at $71,000 after buying an additional 89 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of research reports. Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus boosted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Scotiabank initiated coverage on shares of Targa Resources in a report on Friday, January 10th. They set a "sector outperform" rating and a $218.00 price objective on the stock. Finally, UBS Group lifted their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $189.21.

Targa Resources Price Performance

Shares of TRGP traded up $6.23 during mid-day trading on Thursday, hitting $211.73. The company's stock had a trading volume of 1,154,849 shares, compared to its average volume of 1,443,119. 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 Corp. has a 1-year low of $81.03 and a 1-year high of $212.60. The firm has a market capitalization of $46.17 billion, a P/E ratio of 38.32, a P/E/G ratio of 0.59 and a beta of 2.30. The firm has a 50-day simple moving average of $190.21 and a 200 day simple moving average of $162.26.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $0.97 EPS. Analysts predict that Targa Resources Corp. will post 6.4 EPS for the current fiscal year.

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.