Targa Resources Corp. (NYSE:TRGP) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,599 shares of the pipeline company's stock after selling 2,585 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Targa Resources were worth $1,177,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Atala Financial Inc purchased a new position in shares of Targa Resources during the 4th quarter valued at $31,000. Rakuten Securities Inc. raised its stake in shares of Targa Resources by 394.6% during 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 during the period. Mizuho Bank Ltd. purchased a new stake in Targa Resources during the 4th quarter worth about $36,000. Aspect Partners LLC grew its holdings in Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after buying an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TRGP shares. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Wells Fargo & Company lifted their target price on shares of 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 shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Scotiabank lowered their price target on Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada increased their price objective on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $209.29.

Targa Resources Stock Down 4.1 %

Shares of NYSE TRGP traded down $7.36 during midday trading on Wednesday, hitting $170.75. The stock had a trading volume of 3,170,397 shares, compared to its average volume of 1,738,733. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The business's 50 day moving average is $184.43 and its 200-day moving average is $188.27. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market cap of $37.15 billion, a P/E ratio of 29.75, a PEG ratio of 0.61 and a beta of 1.75.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

Insider Transactions at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.34% 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.