Targa Resources Corp. (NYSE:TRGP) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,995 shares of the pipeline company's stock after selling 5,266 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.13% of Targa Resources worth $50,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its holdings in Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 162 shares during the period. Atala Financial Inc acquired a new position in Targa Resources in the fourth quarter valued at approximately $31,000. Cary Street Partners Financial LLC acquired a new position in Targa Resources in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its holdings in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after acquiring an additional 146 shares during the period. Finally, Mizuho Bank Ltd. acquired a new position in Targa Resources in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRGP. Royal Bank of Canada decreased their price target on Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group decreased their price target on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 5th. Citigroup reduced their target price on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday. Mizuho decreased their target price on Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley increased their target price on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of "Buy" and a consensus price target of $202.93.

Targa Resources Price Performance

TRGP stock traded up $6.56 during midday trading on Monday, reaching $166.12. The stock had a trading volume of 2,520,115 shares, compared to its average volume of 1,775,568. The company's fifty day simple moving average is $178.73 and its 200 day simple moving average is $188.27. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market cap of $36.04 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 52-week low of $112.27 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. As a group, sell-side analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid 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 73.66%.

Insiders Place Their Bets

In related news, Director Waters S. Iv Davis sold 2,190 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the sale, the chief executive officer now directly owns 725,628 shares of the company's stock, valued at $141,555,510.24. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 in the last three months. 1.34% of the stock is currently owned by insiders.

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.