Voya Investment Management LLC Has $36.70 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Voya Investment Management LLC lowered its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,626 shares of the pipeline company's stock after selling 11,695 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Targa Resources worth $36,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRGP. Fisher Asset Management LLC lifted its holdings in shares of Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. increased its stake in shares of Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after purchasing an additional 68 shares during the last quarter. Keybank National Association OH increased its stake in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank increased its stake in shares of Targa Resources by 16.5% during the 4th quarter. Huntington National Bank now owns 557 shares of the pipeline company's stock worth $99,000 after purchasing an additional 79 shares during the last quarter. Finally, Catalina Capital Group LLC increased its stake in shares of Targa Resources by 3.9% during the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock worth $400,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

Targa Resources stock traded down $8.06 during mid-day trading on Thursday, reaching $162.85. The company had a trading volume of 1,130,252 shares, compared to its average volume of 1,736,707. 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 $110.09 and a 52 week high of $218.51. The company has a 50 day moving average of $183.83 and a 200-day moving average of $188.15. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 0.61 and a beta of 1.75.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, sell-side analysts expect that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources's payout ratio is 69.69%.

Analyst Ratings Changes

Several brokerages have recently commented on TRGP. US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Mizuho dropped their price target on shares of Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a research note on Monday. Morgan Stanley increased their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Citigroup increased their price target on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada raised their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $209.29.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares in the company, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the 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 owns 227,269 shares of the company's stock, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.34% 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.