Crossmark Global Holdings Inc. Trims Stock Position in Targa Resources Corp. (NYSE:TRGP)

Crossmark Global Holdings Inc. lowered its position in shares of Targa Resources Corp. (NYSE:TRGP) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,924 shares of the pipeline company’s stock after selling 996 shares during the period. Crossmark Global Holdings Inc.’s holdings in Targa Resources were worth $1,771,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in Targa Resources by 2.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,337 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 245 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Targa Resources by 31.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,287 shares of the pipeline company’s stock worth $174,000 after buying an additional 310 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Targa Resources by 4.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 38,494 shares of the pipeline company’s stock worth $4,957,000 after buying an additional 1,585 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Targa Resources in the 2nd quarter worth approximately $243,000. Finally, Bank of Montreal Can grew its stake in Targa Resources by 1.3% in the 2nd quarter. Bank of Montreal Can now owns 342,717 shares of the pipeline company’s stock worth $44,509,000 after buying an additional 4,234 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group upped their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Trading Up 0.1 %

NYSE:TRGP opened at $211.58 on Friday. The company has a fifty day moving average of $192.80 and a 200 day moving average of $165.43. Targa Resources Corp. has a 52 week low of $83.35 and a 52 week high of $218.51. 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 capitalization of $46.14 billion, a P/E ratio of 38.26, a P/E/G ratio of 0.65 and a beta of 2.30.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $0.97 EPS. On average, research analysts predict that Targa Resources Corp. will post 6.42 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.42%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Insiders Place Their Bets

In other news, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

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.