Gulf International Bank UK Ltd Has $3 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Gulf International Bank UK Ltd trimmed its stake in Targa Resources Corp. (NYSE:TRGP) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 16,794 shares of the pipeline company’s stock after selling 189 shares during the period. Gulf International Bank UK Ltd’s holdings in Targa Resources were worth $2,997,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MML Investors Services LLC grew its holdings in Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB grew its holdings in Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock worth $5,070,000 after purchasing an additional 13,167 shares during the period. Capital Investment Advisors LLC grew its holdings in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after purchasing an additional 5,431 shares during the period. Atomi Financial Group Inc. acquired a new stake in Targa Resources in the fourth quarter worth $271,000. Finally, Braun Stacey Associates Inc. acquired a new stake in Targa Resources in the third quarter worth $11,042,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $201.02 on Friday. The firm has a market cap of $43.84 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52 week low of $97.29 and a 52 week high of $218.51. The firm’s 50-day simple moving average is $197.95 and its two-hundred day simple moving average is $178.09.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data 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 company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is 52.26%.

Wall Street Analyst Weigh In

A number of research firms have commented on TRGP. Scotiabank started coverage on shares of Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Mizuho lifted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $205.43.

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.