Targa Resources Corp. (NYSE:TRGP) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,198 shares of the pipeline company’s stock after selling 4,371 shares during the period. Mediolanum International Funds Ltd’s holdings in Targa Resources were worth $2,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Buckley Wealth Management LLC grew its stake in shares of Targa Resources by 0.7% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock worth $1,469,000 after purchasing an additional 65 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Targa Resources by 0.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after buying an additional 66 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Targa Resources by 9.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock valued at $138,000 after buying an additional 83 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in Targa Resources by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after buying an additional 84 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after buying an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

TRGP opened at $196.55 on Friday. The firm has a market capitalization of $42.86 billion, a PE ratio of 35.54, a PEG ratio of 0.61 and a beta of 2.30. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a twelve month low of $84.33 and a twelve month high of $218.51. The firm’s 50-day moving average price is $193.19 and its 200 day moving average price is $168.63.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $0.97 earnings per share. As a group, sell-side analysts expect that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price on the stock. Wells Fargo & Company raised their price objective on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted 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. Royal Bank of Canada increased their target price on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Scotiabank initiated coverage on shares of Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $189.21.

Insider Transactions at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

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.