Jump Financial LLC Trims Holdings in Targa Resources Corp. (NYSE:TRGP)

Jump Financial LLC reduced its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,670 shares of the pipeline company’s stock after selling 15,541 shares during the quarter. Jump Financial LLC’s holdings in Targa Resources were worth $8,152,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its stake in Targa Resources by 19.5% in the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock worth $153,124,000 after purchasing an additional 168,602 shares in the last quarter. Virtu Financial LLC grew its position in shares of Targa Resources by 39.4% during the 3rd quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company’s stock worth $1,250,000 after buying an additional 2,388 shares in the last quarter. Fulcrum Equity Management increased its stake in shares of Targa Resources by 7.1% during the third quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company’s stock valued at $464,000 after buying an additional 208 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Targa Resources by 9.5% in the third quarter. Sanctuary Advisors LLC now owns 16,933 shares of the pipeline company’s stock valued at $2,506,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Sfmg LLC raised its holdings in shares of Targa Resources by 3.3% in the third quarter. Sfmg LLC now owns 3,131 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 100 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 Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the company’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 completion of the sale, the insider now owns 227,269 shares in the company, 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. In the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. Company insiders own 1.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRGP shares. Barclays lowered their price target 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, April 9th. Mizuho upped 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. The Goldman Sachs Group lifted their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup boosted their price target on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Scotiabank cut their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $210.64.

Targa Resources Trading Up 2.0 %

NYSE:TRGP opened at $167.96 on Wednesday. The company has a market capitalization of $36.55 billion, a P/E ratio of 29.26, a PEG ratio of 0.61 and a beta of 1.75. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51. The firm has a fifty day simple moving average of $190.61 and a 200-day simple moving average of $187.10.

Targa Resources (NYSE:TRGP) last issued 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 for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, equities research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders 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 is presently 69.69%.

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.