Targa Resources Corp. (NYSE:TRGP) Holdings Decreased by California State Teachers Retirement System

California State Teachers Retirement System decreased its stake in Targa Resources Corp. (NYSE:TRGP) by 14.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 423,363 shares of the pipeline company’s stock after selling 71,518 shares during the quarter. California State Teachers Retirement System’s holdings in Targa Resources were worth $75,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Atala Financial Inc acquired a new position in shares of Targa Resources during the 4th quarter worth about $31,000. Rakuten Securities Inc. grew its position in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after buying an additional 146 shares during the period. Mizuho Bank Ltd. acquired a new position in Targa Resources during the fourth quarter valued at approximately $36,000. Aspect Partners LLC lifted 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 buying an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted 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 purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Activity

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the sale, the director now owns 2,899 shares of the company’s stock, 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. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last ninety days. 1.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TRGP shares. Morgan Stanley upped their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Scotiabank reduced their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lifted their price target on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Mizuho reduced their price objective on shares of Targa Resources from $226.00 to $218.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Citigroup lifted their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources has a consensus rating of “Buy” and a consensus target price of $210.07.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $179.38 on Tuesday. The stock’s fifty day simple moving average is $184.97 and its 200 day simple moving average is $188.34. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 0.61 and a beta of 1.75. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP) last announced 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 business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, sell-side analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Targa Resources’s dividend payout ratio is 69.69%.

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.