Targa Resources Corp. (NYSE:TRGP) Stock Position Decreased by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,111 shares of the pipeline company’s stock after selling 224 shares during the quarter. New York Life Investment Management LLC’s holdings in Targa Resources were worth $5,196,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources in the third quarter worth $35,000. Aspect Partners LLC boosted its position in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after buying an additional 130 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Targa Resources in the fourth quarter worth $49,000. Finally, UMB Bank n.a. boosted its position in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Transactions at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources 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 transaction, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,914 shares of company stock worth $22,613,288. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TRGP shares. The Goldman Sachs Group raised their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Mizuho raised their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Scotiabank started coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price for the company. Barclays lifted their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $205.43.

Targa Resources Price Performance

NYSE TRGP opened at $201.02 on Friday. Targa Resources Corp. has a fifty-two week low of $97.29 and a fifty-two week high of $218.51. The stock’s 50-day moving average is $197.95 and its two-hundred day moving average is $178.09. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market cap of $43.84 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.48 billion. On average, analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Targa Resources’s payout ratio is presently 52.26%.

About Targa Resources

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.