Cetera Investment Advisers Has $6.32 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Cetera Investment Advisers lifted its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,400 shares of the pipeline company's stock after purchasing an additional 1,475 shares during the quarter. Cetera Investment Advisers' holdings in Targa Resources were worth $6,319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bridgeway Capital Management LLC bought a new position in shares of Targa Resources during the fourth quarter worth $2,467,000. BROOKFIELD Corp ON raised its holdings in shares of Targa Resources by 8.3% during the fourth quarter. BROOKFIELD Corp ON now owns 1,231,988 shares of the pipeline company's stock worth $219,910,000 after acquiring an additional 94,622 shares during the period. Brevan Howard Capital Management LP lifted its position in Targa Resources by 208.5% in the 4th quarter. Brevan Howard Capital Management LP now owns 31,700 shares of the pipeline company's stock valued at $5,658,000 after acquiring an additional 21,426 shares in the last quarter. Bridgefront Capital LLC lifted its position in Targa Resources by 182.9% in the 4th quarter. Bridgefront Capital LLC now owns 11,397 shares of the pipeline company's stock valued at $2,034,000 after acquiring an additional 7,369 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in Targa Resources in the 4th quarter valued at $31,000. 92.13% of the stock is owned by institutional investors.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This represents a 43.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. This trade represents a 11.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 in the last ninety days. Insiders own 1.34% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of several research reports. Wells Fargo & Company boosted their price objective 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. Royal Bank of Canada cut their price objective on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Scotiabank cut their price objective on shares of 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. Citigroup cut their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $201.64.

Targa Resources Stock Down 0.7%

TRGP stock traded down $1.10 during midday trading on Monday, hitting $164.59. The company's stock had a trading volume of 1,202,737 shares, compared to its average volume of 1,787,062. The stock has a market capitalization of $35.70 billion, a P/E ratio of 28.67, a PEG ratio of 0.61 and a beta of 1.22. The company's fifty day moving average price is $176.83 and its 200 day moving average price is $188.32. Targa Resources Corp. has a twelve month low of $113.65 and a twelve month high of $218.51. 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 quarterly earnings data 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). The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities research analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

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.