Eagle Global Advisors LLC Sells 132,590 Shares of Targa Resources Corp. (NYSE:TRGP)

Eagle Global Advisors LLC lessened its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 492,700 shares of the pipeline company's stock after selling 132,590 shares during the period. Targa Resources makes up about 3.6% of Eagle Global Advisors LLC's holdings, making the stock its 5th biggest position. Eagle Global Advisors LLC owned 0.23% of Targa Resources worth $87,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC increased its stake 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 worth $153,124,000 after acquiring an additional 168,602 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Targa Resources during the third quarter valued at approximately $145,000. Franklin Resources Inc. boosted its stake in shares of Targa Resources by 10.2% in the third quarter. Franklin Resources Inc. now owns 524,336 shares of the pipeline company's stock worth $77,607,000 after acquiring an additional 48,600 shares during the period. Principal Financial Group Inc. lifted its holdings in Targa Resources by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 814,296 shares of the pipeline company's stock worth $120,540,000 after purchasing an additional 22,621 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Targa Resources by 85.7% in the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after purchasing an additional 13,167 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRGP has been the topic of several recent research reports. Barclays decreased their target price on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective 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. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Mizuho decreased their price objective on shares of Targa Resources from $226.00 to $218.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley upped their target price on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. 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. According to MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus price target of $202.93.

Targa Resources Stock Up 3.0%

Shares of Targa Resources stock traded up $4.78 during trading on Monday, reaching $164.34. The company's stock had a trading volume of 1,357,726 shares, compared to its average volume of 1,771,134. Targa Resources Corp. has a 1-year low of $112.27 and a 1-year high of $218.51. The company has a 50-day simple moving average of $178.73 and a two-hundred day simple moving average of $188.27. 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 company has a market cap of $35.65 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 0.61 and a beta of 1.22.

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

Targa Resources Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $1.00 per share. This represents a yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources's dividend payout ratio is currently 73.66%.

Insider Buying and Selling at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at $43,731,100.98. This trade represents a 11.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. The trade was a 29.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is owned by company insiders.

Targa Resources 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.