Securian Asset Management Inc. Sells 397 Shares of Targa Resources Corp. (NYSE:TRGP)

Securian Asset Management Inc. lowered its position in shares of Targa Resources Corp. (NYSE:TRGP) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,719 shares of the pipeline company’s stock after selling 397 shares during the quarter. Securian Asset Management Inc.’s holdings in Targa Resources were worth $2,092,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after buying an additional 633,589 shares during the period. Geode Capital Management LLC lifted its holdings in Targa Resources by 1.7% during the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock worth $843,680,000 after acquiring an additional 97,583 shares in the last quarter. Amundi grew its stake in Targa Resources by 20.9% in the fourth quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock valued at $353,469,000 after acquiring an additional 318,261 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Targa Resources by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock worth $261,344,000 after acquiring an additional 38,723 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock worth $197,076,000 after purchasing an additional 14,287 shares during the period. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target 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. UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho boosted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Citigroup increased their target price on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $206.43.

Targa Resources Stock Performance

TRGP opened at $182.36 on Friday. The business’s 50-day simple moving average is $198.98 and its 200 day simple moving average is $180.78. Targa Resources Corp. has a 52-week low of $104.89 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market capitalization of $39.77 billion, a PE ratio of 31.77, a PEG ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, sell-side analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is currently 52.26%.

Insider Activity

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was 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 owns 2,899 shares of the company’s stock, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last quarter. Company insiders own 1.44% of the company’s stock.

Targa Resources Company 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.