Targa Resources Corp. (NYSE:TRGP) Shares Sold by Mariner LLC

Mariner LLC cut its holdings in Targa Resources Corp. (NYSE:TRGP) by 10.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 73,308 shares of the pipeline company’s stock after selling 8,574 shares during the period. Mariner LLC’s holdings in Targa Resources were worth $13,085,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Atala Financial Inc bought a new stake in Targa Resources in the fourth quarter valued at $31,000. Rakuten Securities Inc. boosted its stake in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares during the period. Mizuho Bank Ltd. bought a new position in Targa Resources in the 4th quarter worth about $36,000. Aspect Partners LLC grew its position in Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 1.0 %

Shares of NYSE TRGP opened at $174.48 on Friday. 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 12 month low of $110.09 and a 12 month high of $218.51. The company has a market cap of $37.97 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 0.61 and a beta of 1.75. The business has a fifty day simple moving average of $189.42 and a 200-day simple moving average of $187.18.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.28%. Targa Resources’s payout ratio is 69.69%.

Insider Activity

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. This represents a 6.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now directly owns 2,899 shares of the company’s stock, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Barclays lowered their price target on Targa Resources from $211.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Mizuho lifted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Royal Bank of Canada increased their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley boosted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research report 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $210.64.

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.