Targa Resources, Inc. $TRGP Position Lowered by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 72.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,205 shares of the pipeline company’s stock after selling 178,365 shares during the period. Intech Investment Management LLC’s holdings in Targa Resources were worth $12,584,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Targa Resources by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock worth $4,755,169,000 after purchasing an additional 422,075 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Targa Resources by 9.0% in the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock worth $3,291,012,000 after acquiring an additional 1,620,253 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Targa Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after acquiring an additional 45,495 shares during the last quarter. UBS Group AG lifted its holdings in Targa Resources by 9.9% in the third quarter. UBS Group AG now owns 2,360,311 shares of the pipeline company’s stock worth $395,447,000 after acquiring an additional 212,887 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Targa Resources by 4.1% in the third quarter. Northern Trust Corp now owns 2,175,544 shares of the pipeline company’s stock worth $364,491,000 after acquiring an additional 84,757 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

NYSE TRGP opened at $255.14 on Friday. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $280.00. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62. The firm has a market capitalization of $54.76 billion, a PE ratio of 25.80, a P/E/G ratio of 1.35 and a beta of 0.75. The company’s 50 day simple moving average is $251.28 and its 200 day simple moving average is $216.18.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. As a group, equities research analysts forecast that Targa Resources, Inc. will post 10.67 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a dividend of $1.25 per share. This is a boost from Targa Resources’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, April 30th. Targa Resources’s dividend payout ratio (DPR) is 50.56%.

Analysts Set New Price Targets

TRGP has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $281.00 target price on shares of Targa Resources in a report on Tuesday, May 12th. Morgan Stanley raised their target price on shares of Targa Resources from $327.00 to $331.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. BMO Capital Markets reissued an “outperform” rating and issued a $241.00 target price on shares of Targa Resources in a report on Friday, February 20th. Seaport Research Partners reissued a “neutral” rating on shares of Targa Resources in a report on Monday, May 4th. Finally, Stifel Nicolaus set a $268.00 target price on shares of Targa Resources in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and a consensus target price of $269.21.

Insider Activity at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 24,589 shares of Targa Resources stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the transaction, the insider owned 197,401 shares in the company, valued at approximately $47,640,757.34. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick J. Mcdonie sold 31,537 shares of Targa Resources stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the completion of the transaction, the insider owned 305,163 shares in the company, valued at approximately $73,043,815.68. This trade represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 66,728 shares of company stock worth $16,196,694 over the last quarter. 1.37% of the stock is currently owned by company insiders.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.