1,237 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Shelton Capital Management

Shelton Capital Management bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,237 shares of the pipeline company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRGP. Vanguard Group Inc. boosted its position in shares of Targa Resources by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company’s stock valued at $4,848,169,000 after acquiring an additional 150,038 shares during the period. Geode Capital Management LLC raised its stake in Targa Resources by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company’s stock valued at $1,056,187,000 after purchasing an additional 212,986 shares during the last quarter. Norges Bank bought a new stake in Targa Resources in the 4th quarter valued at $505,132,000. GQG Partners LLC bought a new stake in Targa Resources in the 4th quarter valued at $393,335,000. Finally, Amundi grew its position in Targa Resources by 20.9% in the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock worth $353,469,000 after purchasing an additional 318,261 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Targa Resources from $211.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank of Canada upped their price target on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. US Capital Advisors upgraded Targa Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Finally, Mizuho raised their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $210.64.

Targa Resources Stock Up 0.5 %

Shares of NYSE:TRGP opened at $163.27 on Friday. The company’s fifty day moving average is $192.02 and its 200-day moving average is $186.83. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The company has a market capitalization of $35.52 billion, a PE ratio of 28.44, a P/E/G ratio of 0.61 and a beta of 1.75.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, April 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.29%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Activity at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now owns 2,899 shares of the company’s stock, valued at $568,957.74. This represents a 43.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 in the last three months. Corporate insiders own 1.39% 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.