Targa Resources Corp. (NYSE:TRGP) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its holdings in Targa Resources Corp. (NYSE:TRGP) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,193 shares of the pipeline company’s stock after selling 759 shares during the period. D.A. Davidson & CO.’s holdings in Targa Resources were worth $749,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in Targa Resources in the third quarter valued at $35,000. Rosenberg Matthew Hamilton boosted 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in Targa Resources in the fourth quarter valued at $49,000. UMB Bank n.a. boosted its stake in Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 106 shares in the last quarter. Finally, Huntington National Bank boosted its stake 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 acquiring an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Trading Down 1.1 %

NYSE TRGP opened at $198.19 on Tuesday. The stock has a market capitalization of $43.22 billion, a P/E ratio of 34.53, a P/E/G ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 52-week low of $95.88 and a 52-week high of $218.51. The firm has a 50-day moving average price of $195.91 and a 200 day moving average price of $176.53. 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 (NYSE:TRGP) last posted 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 return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Equities research analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Mizuho increased their target price on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, UBS Group increased their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $203.77.

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.