Teza Capital Management LLC Has $2.48 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Teza Capital Management LLC reduced its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 58.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,913 shares of the pipeline company's stock after selling 19,731 shares during the quarter. Teza Capital Management LLC's holdings in Targa Resources were worth $2,483,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Snowden Capital Advisors LLC raised its stake in Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after acquiring an additional 53 shares in the last quarter. Fisher Asset Management LLC raised its stake in Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. raised its stake in Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after acquiring an additional 68 shares in the last quarter. Keybank National Association OH raised its stake in Targa Resources by 0.4% during the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after acquiring an additional 70 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its stake in Targa Resources by 0.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock worth $1,648,000 after acquiring an additional 74 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRGP has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Royal Bank of Canada decreased their target price on Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Mizuho decreased their target price on Targa Resources from $218.00 to $212.00 and set an "outperform" rating on the stock in a report on Tuesday. Citigroup decreased their target price on Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their target price on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Thirteen investment 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 stock has a consensus rating of "Buy" and an average price target of $198.79.

Targa Resources Trading Down 1.0%

Targa Resources stock traded down $1.57 during mid-day trading on Wednesday, hitting $160.37. The stock had a trading volume of 2,399,750 shares, compared to its average volume of 1,797,275. The stock has a 50-day simple moving average of $176.42 and a two-hundred day simple moving average of $188.14. The stock has a market capitalization of $34.79 billion, a PE ratio of 27.94, a P/E/G ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 12 month low of $113.65 and a 12 month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

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 company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. As a group, sell-side analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 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 in the company, valued at approximately $141,555,510.24. This represents a 6.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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.

About Targa Resources

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.