Targa Resources, Inc. $TRGP Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Targa Resources, Inc. (NYSE:TRGP) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 573,277 shares of the pipeline company’s stock after selling 102,075 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.27% of Targa Resources worth $96,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Woodline Partners LP lifted its stake in shares of Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after acquiring an additional 5,327 shares during the period. Focus Partners Wealth raised its holdings in Targa Resources by 157.4% during the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after purchasing an additional 2,404 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Targa Resources by 22.1% in the second quarter. Farther Finance Advisors LLC now owns 2,719 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 492 shares during the period. Fifth Third Bancorp boosted its stake in Targa Resources by 17.0% during the 2nd quarter. Fifth Third Bancorp now owns 10,934 shares of the pipeline company’s stock valued at $1,903,000 after purchasing an additional 1,591 shares in the last quarter. Finally, CX Institutional boosted its stake in Targa Resources by 14.3% during the 2nd quarter. CX Institutional now owns 1,527 shares of the pipeline company’s stock valued at $266,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.1%

NYSE:TRGP opened at $191.65 on Friday. The stock has a fifty day simple moving average of $179.80 and a 200 day simple moving average of $169.31. The firm has a market capitalization of $41.14 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 0.82 and a beta of 0.87. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $213.19. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, January 30th. Targa Resources’s dividend payout ratio is 53.19%.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the transaction, the insider directly owned 22,139 shares in the company, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald R. Shrader sold 2,750 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the sale, the insider directly owned 29,561 shares in the company, valued at approximately $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.34% of the company’s stock.

Analyst Ratings Changes

TRGP has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley lifted their target price on Targa Resources from $240.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Wells Fargo & Company boosted their price target on shares of Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $196.00 price target on shares of Targa Resources in a report on Monday, January 12th. Finally, UBS Group restated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.14.

Targa Resources 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.