National Pension Service Sells 33,177 Shares of Targa Resources Corp. (NYSE:TRGP)

National Pension Service trimmed its holdings in Targa Resources Corp. (NYSE:TRGP) by 11.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,205 shares of the pipeline company’s stock after selling 33,177 shares during the quarter. National Pension Service owned about 0.12% of Targa Resources worth $47,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TRGP. Coldstream Capital Management Inc. increased 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 purchasing an additional 66 shares in the last quarter. Mather Group LLC. increased its stake in Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Targa Resources by 4.0% during the 3rd 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 in the last quarter. Catalina Capital Group LLC increased its stake in Targa Resources by 3.9% during the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 85 shares in the last quarter. Finally, Huntington National Bank increased its stake in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Performance

TRGP opened at $195.51 on Friday. The firm 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. Targa Resources Corp. has a 1-year low of $96.64 and a 1-year high of $218.51. The company has a 50 day simple moving average of $197.46 and a two-hundred day simple moving average of $177.65. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s payout ratio is 52.26%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TRGP shares. Mizuho raised 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. Stifel Nicolaus raised their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Barclays raised their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group raised their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $205.43.

Insider Activity

In other news, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction dated 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 directly owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is currently owned by company insiders.

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.