Schonfeld Strategic Advisors LLC Boosts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Schonfeld Strategic Advisors LLC raised its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 45.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,600 shares of the pipeline company's stock after acquiring an additional 8,906 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Targa Resources were worth $5,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in Targa Resources by 85.7% during the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock valued at $5,070,000 after acquiring an additional 13,167 shares during the period. Capital Investment Advisors LLC boosted its position in Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock valued at $1,476,000 after buying an additional 5,431 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of Targa Resources during the fourth quarter worth $271,000. Segment Wealth Management LLC raised its stake in Targa Resources by 2,753.4% during the 4th quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock valued at $9,876,000 after acquiring an additional 53,389 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Targa Resources by 133.4% during the fourth quarter. Diversified Trust Co now owns 11,475 shares of the pipeline company's stock worth $2,048,000 after acquiring an additional 6,558 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of research analyst reports. Scotiabank decreased their price target on 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. Wells Fargo & Company boosted their price objective on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Royal Bank of Canada lifted their price target on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Citigroup raised their target price on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $207.21.

Insiders Place Their Bets

In related 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 sale, the insider now directly owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 over the last ninety days. 1.34% of the stock is currently owned by company insiders.

Targa Resources Price Performance

NYSE:TRGP traded down $0.64 during trading hours on Tuesday, reaching $157.61. The company had a trading volume of 2,927,268 shares, compared to its average volume of 1,757,405. Targa Resources Corp. has a one year low of $112.05 and a one year high of $218.51. 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 50-day moving average of $181.65 and a two-hundred day moving average of $188.45. The firm has a market capitalization of $34.29 billion, a PE ratio of 27.46, a PEG ratio of 0.61 and a beta of 1.22.

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

Targa Resources Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's payout ratio is 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.