Centiva Capital LP Has $496,000 Stock Position in Targa Resources Corp. (NYSE:TRGP)

Centiva Capital LP lessened its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 60.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,777 shares of the pipeline company's stock after selling 4,243 shares during the quarter. Centiva Capital LP's holdings in Targa Resources were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TRGP. Vanguard Group Inc. boosted its holdings in Targa Resources by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock worth $4,848,169,000 after buying an additional 150,038 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $1,056,187,000 after buying an additional 212,986 shares during the last quarter. Norges Bank bought a new position in Targa Resources during the fourth quarter worth about $505,132,000. Price T Rowe Associates Inc. MD boosted its holdings in Targa Resources by 2.0% during 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 last quarter. Finally, GQG Partners LLC bought a new position in Targa Resources during the fourth quarter worth about $393,335,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Down 0.4%

Shares of TRGP traded down $0.73 during mid-day trading on Wednesday, hitting $168.77. 1,810,038 shares of the company's stock were exchanged, compared to its average volume of 1,781,874. The company has a market cap of $36.61 billion, a PE ratio of 29.40, a P/E/G ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 52 week low of $113.65 and a 52 week high of $218.51. The company has a 50-day simple moving average of $178.09 and a 200 day simple moving average of $188.14. 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 - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. On average, research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

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

Insider Activity at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was 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 of the company's stock, 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 sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho reduced their target price on Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Barclays dropped their price target on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Scotiabank dropped 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, April 29th. Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $202.93.

Targa Resources 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.