Man Group plc Has $61.23 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Man Group plc lifted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 26.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 343,019 shares of the pipeline company's stock after purchasing an additional 72,711 shares during the quarter. Man Group plc owned about 0.16% of Targa Resources worth $61,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TRGP. Barclays PLC grew its position in shares of Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after purchasing an additional 168,602 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Targa Resources by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,529 shares of the pipeline company's stock worth $2,415,000 after acquiring an additional 158 shares during the last quarter. Czech National Bank boosted its position in Targa Resources by 5.9% during the 4th quarter. Czech National Bank now owns 47,281 shares of the pipeline company's stock worth $8,440,000 after acquiring an additional 2,653 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Targa Resources by 191.4% during the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after acquiring an additional 5,431 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after acquiring an additional 89 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Down 0.6%

Shares of NYSE TRGP traded down $0.99 during trading hours on Friday, hitting $165.46. The company had a trading volume of 2,084,603 shares, compared to its average volume of 1,789,409. Targa Resources Corp. has a 1-year low of $113.65 and a 1-year high of $218.51. The firm's 50 day moving average is $177.28 and its 200-day moving average is $188.18. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $35.89 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22.

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

Targa Resources Dividend Announcement

The firm also recently declared 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 was Wednesday, April 30th. Targa Resources's dividend payout ratio (DPR) is presently 73.66%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRGP. Citigroup reduced their price target on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada reduced their price target on Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Scotiabank reduced their price target on Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company upped their price target on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Mizuho reduced their price target on Targa Resources from $226.00 to $218.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $201.64.

Insider Activity at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the transaction, the director now owns 2,899 shares in the company, valued at $568,957.74. This trade represents a 43.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,914 shares of company stock worth $22,613,288. 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.