Targa Resources Corp. (NYSE:TRGP) CEO Matthew J. Meloy Sells 48,837 Shares

Targa Resources Corp. (NYSE:TRGP) CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Targa Resources Trading Up 1.7 %

Shares of TRGP stock opened at $198.20 on Thursday. 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 cap of $43.23 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The business has a 50-day moving average price of $197.00 and a two-hundred day moving average price of $177.53. Targa Resources Corp. has a 12-month low of $96.64 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share 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 firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. Targa Resources’s dividend payout ratio is currently 52.26%.

Analysts Set New Price Targets

TRGP has been the topic of a number of recent analyst reports. Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, UBS Group upped their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $205.43.

Institutional Investors Weigh In On Targa Resources

A number of large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Targa Resources by 14,163.5% during the third quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock worth $30,232,000 after purchasing an additional 202,822 shares during the period. Allworth Financial LP raised its position in Targa Resources by 43.6% during the 3rd quarter. Allworth Financial LP now owns 553 shares of the pipeline company’s stock valued at $82,000 after purchasing an additional 168 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Targa Resources by 80.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,593 shares of the pipeline company’s stock worth $4,638,000 after buying an additional 14,051 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Targa Resources by 11.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,371 shares of the pipeline company’s stock worth $1,979,000 after buying an additional 1,321 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Targa Resources by 24.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 71,038 shares of the pipeline company’s stock valued at $10,380,000 after buying an additional 14,029 shares during the period. Institutional investors own 92.13% 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.