UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in Targa Resources Corp. (NYSE:TRGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,304,867 shares of the pipeline company's stock after selling 26,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Targa Resources worth $232,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its position in Targa Resources by 19.5% during the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after acquiring an additional 168,602 shares during the last quarter. Park Avenue Securities LLC boosted its position in Targa Resources by 90.4% during the fourth quarter. Park Avenue Securities LLC now owns 3,119 shares of the pipeline company's stock valued at $557,000 after acquiring an additional 1,481 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Targa Resources during the 4th quarter worth about $216,000. UMB Bank n.a. boosted its position in shares of Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company's stock worth $67,000 after purchasing an additional 106 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Targa Resources by 3.5% during the 4th quarter. Ballentine Partners LLC now owns 3,653 shares of the pipeline company's stock worth $652,000 after purchasing an additional 124 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Down 0.4%

NYSE TRGP traded down $0.67 during trading hours on Wednesday, hitting $160.80. The company's stock had a trading volume of 363,597 shares, compared to its average volume of 1,795,230. Targa Resources Corp. has a 52 week low of $114.36 and a 52 week high of $218.51. The company has a market capitalization of $34.88 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. 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's 50-day simple moving average is $172.87 and its two-hundred day simple moving average is $187.37.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho set a $212.00 price objective on shares of Targa Resources and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. 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. Barclays cut their price objective on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, UBS Group cut their price objective on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $198.79.

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 shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $16,206,024.70. This trade represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.34% of the company's stock.

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.