Simplicity Solutions LLC Sells 135 Shares of Targa Resources Corp. (NYSE:TRGP)

Simplicity Solutions LLC trimmed its holdings in Targa Resources Corp. (NYSE:TRGP) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,089 shares of the pipeline company’s stock after selling 135 shares during the period. Simplicity Solutions LLC’s holdings in Targa Resources were worth $616,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its position in Targa Resources by 104,219.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 25,241,143 shares of the pipeline company’s stock worth $1,855,224,000 after acquiring an additional 25,216,947 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Targa Resources by 1.9% in the first quarter. BlackRock Inc. now owns 18,748,593 shares of the pipeline company’s stock worth $1,367,710,000 after buying an additional 348,951 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Targa Resources by 5.1% in the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock worth $713,107,000 after buying an additional 401,144 shares during the last quarter. State Street Corp lifted its stake in shares of Targa Resources by 14.4% in the first quarter. State Street Corp now owns 7,836,957 shares of the pipeline company’s stock worth $591,455,000 after buying an additional 986,283 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Targa Resources by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,802,014 shares of the pipeline company’s stock worth $513,349,000 after buying an additional 421,874 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Insider Transactions at Targa Resources

In other news, insider D. Scott Pryor sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the sale, the insider now owns 156,098 shares of the company’s stock, valued at approximately $15,141,506. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the sale, the insider now directly owns 156,098 shares in the company, valued at approximately $15,141,506. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,966 shares of company stock valued at $7,987,215. 1.39% of the stock is owned by insiders.

Targa Resources Trading Down 1.6 %

Shares of Targa Resources stock opened at $112.22 on Thursday. The firm has a market capitalization of $24.97 billion, a PE ratio of 30.58 and a beta of 2.21. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The company’s fifty day moving average price is $104.86 and its two-hundred day moving average price is $92.35. Targa Resources Corp. has a 52-week low of $67.36 and a 52-week high of $117.61.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, analysts expect that Targa Resources Corp. will post 5.77 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.67%. 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. Targa Resources’s payout ratio is 54.50%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Mizuho boosted their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Citigroup upped 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. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus target price of $117.92.

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.