Universal Beteiligungs und Servicegesellschaft mbH Cuts Holdings in Targa Resources, Inc. $TRGP

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,400 shares of the pipeline company’s stock after selling 19,570 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Targa Resources were worth $29,895,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TRGP. Wellington Management Group LLP increased its holdings in shares of Targa Resources by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after acquiring an additional 1,620,253 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Targa Resources in the 3rd quarter valued at about $121,426,000. Vanguard Group Inc. increased its holdings in shares of Targa Resources by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock valued at $4,755,169,000 after acquiring an additional 422,075 shares during the last quarter. Merewether Investment Management LP increased its holdings in shares of Targa Resources by 52.9% in the 2nd quarter. Merewether Investment Management LP now owns 992,582 shares of the pipeline company’s stock valued at $172,789,000 after acquiring an additional 343,319 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Targa Resources by 107.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 588,684 shares of the pipeline company’s stock valued at $98,628,000 after acquiring an additional 304,426 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 1.4%

Targa Resources stock opened at $240.12 on Friday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $253.87. The stock has a 50 day moving average of $238.41 and a two-hundred day moving average of $198.34. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. The stock has a market capitalization of $51.58 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.53 and a beta of 0.81.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. As a group, research analysts expect that Targa Resources, Inc. will post 10.31 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. Targa Resources’s payout ratio is 46.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TRGP shares. Wells Fargo & Company increased their price objective on Targa Resources from $248.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Stifel Nicolaus upped their target price on Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research report on Friday, February 20th. The Goldman Sachs Group upped their target price on Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley upped their target price on Targa Resources from $298.00 to $327.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Finally, TD Cowen upped their target price on Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $259.93.

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 1,359 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the sale, the director directly owned 77,094 shares of the company’s stock, valued at $17,677,654.20. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick J. Mcdonie sold 31,537 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total value of $7,548,696.32. Following the completion of the sale, the insider directly owned 305,163 shares of the company’s stock, valued at $73,043,815.68. This represents a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,929 shares of company stock worth $24,692,134. Corporate insiders own 1.37% of the company’s stock.

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.