Harvest Fund Management Co. Ltd Has $462,000 Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Harvest Fund Management Co. Ltd trimmed its position in Targa Resources Corp. (NYSE:TRGP) by 63.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the pipeline company’s stock after selling 4,474 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Targa Resources were worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd grew its holdings in Targa Resources by 10.6% in the 4th quarter. Vinva Investment Management Ltd now owns 10,354 shares of the pipeline company’s stock valued at $1,841,000 after buying an additional 994 shares in the last quarter. Xponance Inc. grew its holdings in Targa Resources by 37.0% in the 4th quarter. Xponance Inc. now owns 65,912 shares of the pipeline company’s stock valued at $11,765,000 after buying an additional 17,796 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Targa Resources in the 4th quarter valued at $5,079,000. Evoke Wealth LLC acquired a new position in Targa Resources in the 4th quarter valued at $230,000. Finally, Thrivent Financial for Lutherans grew its holdings in Targa Resources by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 15,208 shares of the pipeline company’s stock valued at $2,752,000 after buying an additional 1,102 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 35,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is currently owned by insiders.

Targa Resources Price Performance

Targa Resources stock opened at $197.25 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $43.02 billion, a PE ratio of 34.36, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51. The stock has a 50-day moving average price of $199.77 and a two-hundred day moving average price of $182.87.

Targa Resources (NYSE:TRGP) last posted its earnings results 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 firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.52%. Targa Resources’s dividend payout ratio is presently 52.26%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TRGP. The Goldman Sachs Group increased their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company increased their target price on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $211.00.

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.