LMR Partners LLP Invests $1.03 Million in Targa Resources Corp. (NYSE:TRGP)

LMR Partners LLP purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,763 shares of the pipeline company's stock, valued at approximately $1,029,000.

Other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its stake in shares of Targa Resources by 5,400.0% in the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after acquiring an additional 162 shares during the period. Atala Financial Inc purchased a new position in shares of Targa Resources in the 4th quarter valued at about $31,000. Cary Street Partners Financial LLC purchased a new position in shares of Targa Resources in the 4th quarter valued at about $31,000. Rakuten Securities Inc. increased its holdings in shares of 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 purchasing an additional 146 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Targa Resources in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Targa Resources from $226.00 to $218.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Wells Fargo & Company raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Citigroup dropped their target price on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a report on Friday, May 9th. Barclays dropped their target price on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley raised their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus target price of $201.64.

Targa Resources Trading Down 0.6%

Shares of TRGP traded down $0.99 during mid-day trading on Friday, hitting $165.46. The company had a trading volume of 2,084,603 shares, compared to its average volume of 1,789,409. The business's 50-day simple moving average is $177.28 and its 200-day simple moving average is $188.18. 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 Corp. has a 1-year low of $113.65 and a 1-year high of $218.51. The stock has a market cap of $35.89 billion, a PE ratio of 28.83, a P/E/G ratio of 0.61 and a beta of 1.22.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Sell-side analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a $1.00 dividend. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's dividend payout ratio is presently 73.66%.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the transaction, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,914 shares of company stock valued at $22,613,288. Insiders own 1.34% of the company's stock.

About Targa Resources

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.