MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $103.08 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 577,470 shares of the pipeline company's stock after selling 22,359 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.26% of Targa Resources worth $103,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Norges Bank acquired a new position in Targa Resources in the fourth quarter worth approximately $505,132,000. GQG Partners LLC bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $393,335,000. Canada Pension Plan Investment Board raised its position in shares of Targa Resources by 981.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock valued at $204,223,000 after purchasing an additional 1,038,350 shares during the period. Raymond James Financial Inc. bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $150,372,000. Finally, TD Asset Management Inc. raised its position in shares of Targa Resources by 568.7% in the fourth quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after purchasing an additional 825,267 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Scotiabank lowered their price objective on shares of Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Citigroup lowered 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 note on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group decreased their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Targa Resources has an average rating of "Buy" and an average target price of $201.64.

Insider Activity

In other news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 over the last 90 days. 1.34% of the stock is owned by company insiders.

Targa Resources Price Performance

Shares of TRGP stock traded down $0.99 during trading hours on Friday, hitting $165.46. 2,084,603 shares of the company's stock were exchanged, compared to its average volume of 1,786,660. Targa Resources Corp. has a 52 week low of $113.65 and a 52 week high of $218.51. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock's 50-day moving average is $177.59 and its 200-day moving average is $188.02.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data 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 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. As a group, research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given 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%.

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.