Harvest Fund Management Co. Ltd Has $462,000 Stock Position in Targa Resources Corp. (NYSE:TRGP)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 63.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,592 shares of the pipeline company’s stock after selling 4,474 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Targa Resources were worth $462,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Atala Financial Inc acquired a new stake in Targa Resources during the fourth quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 146 shares during the period. Prospera Private Wealth LLC acquired a new stake in Targa Resources in the third quarter valued at approximately $35,000. Aspect Partners LLC grew its stake in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton grew its stake in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Targa Resources stock opened at $197.25 on Friday. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The business has a 50-day simple moving average of $199.77 and a 200 day simple moving average of $182.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a market cap of $43.02 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP) last posted 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 business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. On average, research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is 52.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup raised their price objective on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their target price on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Barclays lifted their target price on Targa Resources from $204.00 to $211.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $211.00.

Insider Buying and Selling

In other news, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 over the last ninety days. 1.39% of the stock is owned by corporate insiders.

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.