Targa Resources, Inc. $TRGP Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,400 shares of the pipeline company’s stock after selling 19,570 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Targa Resources worth $29,895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Woodline Partners LP boosted its stake in Targa Resources by 40.7% during the first quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after buying an additional 5,327 shares during the last quarter. Focus Partners Wealth boosted its stake in Targa Resources by 157.4% during the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after buying an additional 2,404 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Targa Resources by 6.3% during the second quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock worth $644,000 after buying an additional 219 shares during the last quarter. Brown Advisory Inc. boosted its stake in Targa Resources by 13.1% during the second quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock worth $787,000 after buying an additional 524 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in Targa Resources by 11.0% during the second quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock worth $5,550,000 after buying an additional 3,163 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP stock opened at $240.12 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. The company has a market capitalization of $51.58 billion, a PE ratio of 27.95, a P/E/G ratio of 1.53 and a beta of 0.81. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $253.87. The business’s fifty day moving average price is $238.41 and its 200 day moving average price is $198.34.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 10.31 EPS for the current year.

Targa Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a dividend of $1.25 per share. This is a positive change from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, April 30th. This represents a $5.00 annualized dividend and a yield of 2.1%. Targa Resources’s dividend payout ratio (DPR) is currently 46.57%.

Insider Activity at Targa Resources

In other Targa Resources news, Director Lindsey Cooksen sold 435 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $231.72, for a total transaction of $100,798.20. Following the sale, the director owned 11,670 shares in the company, valued at $2,704,172.40. This represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider D. Scott Pryor sold 17,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider owned 31,938 shares in the company, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,929 shares of company stock worth $24,692,134 over the last quarter. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company upped their price target on Targa Resources from $248.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. UBS Group upped their price target on Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Barclays upped their price target on Targa Resources from $226.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Finally, TD Cowen upped their price target on Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.93.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.