Voya Investment Management LLC Decreases Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Voya Investment Management LLC lessened its stake in Targa Resources Corp. (NYSE:TRGP) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,626 shares of the pipeline company’s stock after selling 11,695 shares during the period. Voya Investment Management LLC’s holdings in Targa Resources were worth $36,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in shares of Targa Resources by 4.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,425 shares of the pipeline company’s stock worth $611,000 after acquiring an additional 142 shares in the last quarter. Burling Wealth Partners LLC purchased a new stake in shares of Targa Resources during the 4th quarter valued at $417,000. Coppell Advisory Solutions LLC boosted its position in shares of Targa Resources by 181.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 941 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 607 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Targa Resources during the 4th quarter worth $4,411,000. Finally, Price T Rowe Associates Inc. MD increased its position in Targa Resources by 2.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company’s stock valued at $492,022,000 after buying an additional 53,853 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Up 0.3 %

Targa Resources stock opened at $177.61 on Friday. The business’s 50-day moving average price is $185.59 and its 200 day moving average price is $187.90. 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 firm has a market cap of $38.65 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly 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). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. As a group, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRGP shares. Royal Bank of Canada raised their price target on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company lifted 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, February 21st. Mizuho raised their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup lifted their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley upped their target price on Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $210.64.

Insider Buying and Selling

In other news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is owned by company 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.