Capitolis Liquid Global Markets LLC bought a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 136,000 shares of the pipeline company's stock, valued at approximately $24,276,000. Capitolis Liquid Global Markets LLC owned 0.06% of Targa Resources at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Targa Resources by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock worth $4,848,169,000 after purchasing an additional 150,038 shares during the last quarter. Geode Capital Management LLC lifted its position in Targa Resources by 3.7% during the fourth 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 Targa Resources during the fourth quarter valued at about $505,132,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 53,853 shares during the period. Finally, GQG Partners LLC bought a new position in shares of Targa Resources during the 4th quarter valued at approximately $393,335,000. Institutional investors own 92.13% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on TRGP shares. The Goldman Sachs Group lowered their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday. Mizuho dropped their price target on Targa Resources from $226.00 to $218.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Scotiabank decreased their price target on shares of Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company increased their target price on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. 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, the company presently has an average rating of "Buy" and a consensus price target of $207.21.
View Our Latest Research Report on TRGP
Targa Resources Price Performance
Shares of NYSE TRGP opened at $158.21 on Tuesday. 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 Corp. has a 12 month low of $112.05 and a 12 month high of $218.51. The firm's 50 day simple moving average is $181.65 and its 200-day simple moving average is $188.45. The stock has a market capitalization of $34.42 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 0.61 and a beta of 1.22.
Targa Resources (NYSE:TRGP - Get Free Report) last announced 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 business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.
Targa Resources Announces Dividend
The company also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's payout ratio is 73.66%.
Insider Activity
In other news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now owns 2,899 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at $141,555,510.24. This represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is currently owned by company insiders.
Targa Resources Company Profile
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Free Report)
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.
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