Illinois Municipal Retirement Fund cut its holdings in Targa Resources, Inc. (NYSE:TRGP – Free Report) by 31.8% during the first quarter, Holdings Channel reports. The institutional investor owned 12,833 shares of the pipeline company’s stock after selling 5,992 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Targa Resources were worth $3,218,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of TRGP. Hardy Reed LLC lifted its position in Targa Resources by 1.0% during the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock valued at $1,083,000 after acquiring an additional 41 shares during the period. Hantz Financial Services Inc. grew its holdings in Targa Resources by 10.5% in the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock worth $97,000 after purchasing an additional 50 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Targa Resources by 0.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock worth $1,376,000 after purchasing an additional 51 shares during the period. First Horizon Corp increased its stake in shares of Targa Resources by 20.1% during the fourth quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Targa Resources by 4.1% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 60 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Targa Resources
In other news, Director Charles R. Crisp sold 10,602 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the transaction, the director directly owned 66,492 shares of the company’s stock, valued at $17,019,292.32. This represents a 13.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.37% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Stock Report on TRGP
Targa Resources Trading Up 0.2%
NYSE:TRGP opened at $283.39 on Monday. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.45 and a beta of 0.71. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The company’s 50 day moving average price is $267.82 and its 200-day moving average price is $238.96. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $285.56.
Targa Resources (NYSE:TRGP – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. On average, equities research analysts forecast that Targa Resources, Inc. will post 10.75 earnings per share for the current fiscal year.
Targa Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio (DPR) is presently 50.56%.
Targa Resources Company 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.
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