Waldron Private Wealth LLC Sells 22,988 Shares of Targa Resources Corp. (NYSE:TRGP)

Waldron Private Wealth LLC trimmed its position in shares of Targa Resources Corp. (NYSE:TRGP) by 64.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,496 shares of the pipeline company’s stock after selling 22,988 shares during the period. Waldron Private Wealth LLC’s holdings in Targa Resources were worth $2,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Wellington Management Group LLP boosted its holdings in Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after purchasing an additional 633,589 shares during the period. National Bank of Canada FI grew its position in Targa Resources by 75.4% during the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock worth $89,413,000 after buying an additional 259,776 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Targa Resources by 599.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock valued at $42,619,000 after acquiring an additional 246,762 shares during the period. International Assets Investment Management LLC raised its holdings in Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock valued at $30,232,000 after acquiring an additional 202,822 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Targa Resources by 1,904.8% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company’s stock worth $29,596,000 after purchasing an additional 189,984 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction 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 trade represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Targa Resources Stock Performance

Shares of TRGP opened at $196.55 on Friday. The stock has a market capitalization of $42.86 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 0.61 and a beta of 2.30. Targa Resources Corp. has a 12 month low of $84.33 and a 12 month high of $218.51. The firm has a fifty day simple moving average of $193.40 and a 200 day simple moving average of $168.20. 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 (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the firm posted $0.97 earnings per share. Research analysts forecast that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared 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 yield of 1.53%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRGP shares. Scotiabank assumed coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price target on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources 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.