Targa Resources Corp. (NYSE:TRGP) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,046 shares of the pipeline company's stock after selling 151,678 shares during the period. National Bank of Canada FI owned approximately 0.18% of Targa Resources worth $34,588,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. grew its position in Targa Resources by 40.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,651 shares of the pipeline company's stock worth $491,000 after purchasing an additional 1,618 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Targa Resources during the 4th quarter valued at $1,117,000. First Trust Direct Indexing L.P. grew its position in shares of Targa Resources by 29.9% during the 4th quarter. First Trust Direct Indexing L.P. now owns 7,660 shares of the pipeline company's stock valued at $665,000 after acquiring an additional 1,765 shares during the period. Victory Capital Management Inc. grew its position in shares of Targa Resources by 1.2% during the 4th quarter. Victory Capital Management Inc. now owns 139,436 shares of the pipeline company's stock valued at $12,113,000 after acquiring an additional 1,613 shares during the period. Finally, Skylands Capital LLC grew its position in shares of Targa Resources by 10.0% during the 4th quarter. Skylands Capital LLC now owns 24,200 shares of the pipeline company's stock valued at $2,102,000 after acquiring an additional 2,200 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Up 0.4 %

TRGP traded up $0.49 during trading hours on Monday, reaching $112.80. 1,236,563 shares of the company's stock traded hands, compared to its average volume of 1,733,644. The firm has a 50-day moving average price of $110.33 and a 200 day moving average price of $95.16. The firm has a market capitalization of $25.01 billion, a PE ratio of 23.21 and a beta of 2.19. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 52-week low of $67.36 and a 52-week high of $117.87.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.72 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Targa Resources's previous quarterly dividend of $0.50. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.66%. Targa Resources's dividend payout ratio (DPR) is 61.73%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRGP. Barclays boosted their price objective on shares of Targa Resources from $116.00 to $122.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. Citigroup lifted their target price on shares of Targa Resources from $104.00 to $112.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Wells Fargo & Company lifted their target price on shares of Targa Resources from $109.00 to $124.00 and gave the company an "overweight" rating in a research note on Friday. Mizuho lifted their target price on shares of Targa Resources from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Targa Resources from $106.00 to $109.00 and gave the company an "outperform" rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.92.

Insider Activity

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $97.31, for a total value of $973,100.00. Following the completion of the sale, the insider now directly owns 219,451 shares in the company, valued at approximately $21,354,776.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at $7,012,769.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the transaction, the insider now directly owns 219,451 shares in the company, valued at $21,354,776.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,966 shares of company stock valued at $7,987,215. Corporate insiders own 1.44% 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.