Point72 Europe London LLP Has $14.06 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Point72 Europe London LLP reduced its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,786 shares of the pipeline company's stock after selling 10,277 shares during the quarter. Point72 Europe London LLP's holdings in Targa Resources were worth $14,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quantinno Capital Management LP lifted its holdings in Targa Resources by 45.4% during the 4th quarter. Quantinno Capital Management LP now owns 48,771 shares of the pipeline company's stock worth $8,706,000 after buying an additional 15,222 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Targa Resources in the 4th quarter valued at $575,000. Man Group plc lifted its stake in shares of Targa Resources by 26.9% in the 4th quarter. Man Group plc now owns 343,019 shares of the pipeline company's stock valued at $61,229,000 after purchasing an additional 72,711 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Targa Resources in the 4th quarter valued at $1,764,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Targa Resources by 22.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,955,316 shares of the pipeline company's stock valued at $349,024,000 after purchasing an additional 353,165 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $5,750,856.54. Following the completion of the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62% decrease in their position. The sale 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 dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares of the company's stock, valued at $16,206,024.70. This trade represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. Corporate insiders own 1.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TRGP shares. Royal Bank of Canada cut their price target on Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Mizuho cut their price target on Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. UBS Group cut their price target on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Scotiabank cut 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. 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $201.64.

Targa Resources Trading Down 0.6%

Shares of TRGP traded down $0.99 during trading hours on Friday, reaching $165.46. The stock had a trading volume of 2,084,603 shares, compared to its average volume of 1,789,409. The firm has a 50-day moving average of $177.28 and a 200 day moving average of $188.18. The company has a market cap of $35.89 billion, a P/E ratio of 28.83, a P/E/G ratio of 0.61 and a beta of 1.22. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52 week low of $113.65 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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 firm 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%. On average, sell-side analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $1.00 per share. 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%.

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.