Targa Resources Corp. (NYSE:TRGP) Director Waters S. Iv Davis Sells 2,190 Shares

Targa Resources Corp. (NYSE:TRGP - Get Free Report) Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. This represents a 43.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Targa Resources Trading Down 3.1 %

Shares of NYSE TRGP traded down $6.23 during trading on Monday, reaching $195.49. The company had a trading volume of 1,968,593 shares, compared to its average volume of 1,590,475. The company's fifty day moving average price is $198.29 and its 200-day moving average price is $179.02. Targa Resources Corp. has a 12 month low of $99.04 and a 12 month high of $218.51. The stock has a market cap of $42.64 billion, a P/E ratio of 34.06, a PEG ratio of 0.61 and a beta of 2.29. 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 released its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 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 company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. As a group, research analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TRGP shares. Citigroup lifted their price objective on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Scotiabank began coverage on Targa Resources in a report on Friday, January 10th. They set a "sector outperform" rating and a $218.00 price target for the company. UBS Group boosted their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Barclays boosted their price target on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. 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's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $207.00.

Institutional Investors Weigh In On Targa Resources

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Targa Resources by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock valued at $4,848,169,000 after buying an additional 150,038 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock valued at $2,235,927,000 after purchasing an additional 633,589 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Targa Resources by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock valued at $1,056,187,000 after purchasing an additional 212,986 shares in the last quarter. Norges Bank bought a new stake in shares of Targa Resources during the 4th quarter valued at about $505,132,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Targa Resources by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company's stock worth $492,022,000 after acquiring an additional 53,853 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

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.