Sumitomo Mitsui Trust Group Inc. Sells 1,518 Shares of Targa Resources, Inc. (NYSE:TRGP)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 511,118 shares of the pipeline company's stock after selling 1,518 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Targa Resources worth $102,464,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC lifted its holdings in Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Atala Financial Inc bought a new position in Targa Resources during the 4th quarter worth $31,000. Cary Street Partners Financial LLC acquired a new stake in shares of Targa Resources during the fourth quarter worth $31,000. Ameriflex Group Inc. bought a new stake in shares of Targa Resources in the fourth quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Targa Resources in the fourth quarter valued at about $32,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Price Performance

Shares of TRGP stock traded down $0.27 on Monday, hitting $174.11. 2,119,708 shares of the company's stock were exchanged, compared to its average volume of 1,836,245. Targa Resources, Inc. has a 12 month low of $122.56 and a 12 month high of $218.51. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The company has a 50 day moving average of $166.29 and a 200 day moving average of $182.49. The stock has a market cap of $37.77 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 0.61 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. On average, equities research analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on TRGP shares. Citigroup dropped their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group dropped their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $205.00 price target (up previously from $191.00) on shares of Targa Resources in a research report on Thursday. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Mizuho set a $212.00 target price on Targa Resources and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $204.69.

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.