Targa Resources Corp. (NYSE:TRGP) Holdings Decreased by Lindbrook Capital LLC

Lindbrook Capital LLC decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,033 shares of the pipeline company’s stock after selling 3,333 shares during the quarter. Lindbrook Capital LLC’s holdings in Targa Resources were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TRGP. Wellington Management Group LLP boosted its position in Targa Resources by 4.4% during the third 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 last quarter. Geode Capital Management LLC boosted its position in Targa Resources by 1.7% during the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after purchasing an additional 97,583 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Targa Resources by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock valued at $261,344,000 after purchasing an additional 38,723 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after purchasing an additional 14,287 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Targa Resources by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after purchasing an additional 96,268 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the transaction, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 over the last three months. Company insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho lifted their price objective on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Barclays boosted their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus boosted their price target on Targa Resources from $190.00 to $224.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources presently has a consensus rating of “Buy” and a consensus price target of $207.00.

Targa Resources Price Performance

NYSE TRGP opened at $186.67 on Thursday. Targa Resources Corp. has a twelve month low of $103.04 and a twelve month high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock has a market capitalization of $40.71 billion, a PE ratio of 32.52, a P/E/G ratio of 0.61 and a beta of 2.29. The stock has a 50-day simple moving average of $198.60 and a 200 day simple moving average of $179.41.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.61%. Targa Resources’s dividend payout ratio is 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.