Van Lanschot Kempen Investment Management N.V. Sells 19,355 Shares of Targa Resources Corp. (NYSE:TRGP)

Van Lanschot Kempen Investment Management N.V. cut its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 39.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,610 shares of the pipeline company's stock after selling 19,355 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Targa Resources were worth $5,285,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Atala Financial Inc acquired a new position in Targa Resources in the 4th quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares during the last quarter. Mizuho Bank Ltd. bought a new position in Targa Resources in the 4th quarter valued at approximately $36,000. Aspect Partners LLC boosted its position in 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 buying an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Targa Resources by 49.4% during 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 last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRGP has been the topic of a number of recent research reports. Scotiabank cut their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company upped their price target on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Morgan Stanley raised their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Mizuho upped their target price on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Citigroup raised their price target on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Thirteen equities 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, the company currently has an average rating of "Buy" and a consensus target price of $210.64.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the firm's 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 completion of the transaction, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were 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 in the company, valued at approximately $568,957.74. This represents 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 quarter. Corporate insiders own 1.34% of the company's stock.

Targa Resources Stock Performance

Shares of NYSE TRGP traded up $0.61 during mid-day trading on Friday, reaching $177.61. 1,591,327 shares of the company's stock were exchanged, compared to its average volume of 1,730,943. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The firm has a 50-day moving average price of $186.22 and a two-hundred day moving average price of $187.76. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results 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). The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

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.