Targa Resources, Inc. $TRGP Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,112,429 shares of the pipeline company’s stock after selling 28,164 shares during the period. American Century Companies Inc. owned 0.52% of Targa Resources worth $186,376,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRGP. Vanguard Group Inc. grew its holdings in shares of Targa Resources by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock valued at $4,755,169,000 after purchasing an additional 422,075 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Targa Resources by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,856,899 shares of the pipeline company’s stock worth $1,022,222,000 after purchasing an additional 95,611 shares during the last quarter. Norges Bank bought a new stake in shares of Targa Resources in the 2nd quarter worth approximately $708,366,000. Canada Pension Plan Investment Board boosted its position in Targa Resources by 12.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,886,844 shares of the pipeline company’s stock valued at $328,462,000 after purchasing an additional 201,927 shares during the period. Finally, Legal & General Group Plc grew its stake in Targa Resources by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 1,601,244 shares of the pipeline company’s stock worth $278,745,000 after buying an additional 107,028 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In other Targa Resources news, President Jennifer R. Kneale sold 29,509 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total transaction of $6,790,611.08. Following the completion of the transaction, the president directly owned 235,260 shares of the company’s stock, valued at approximately $54,138,031.20. This trade represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 17,500 shares of Targa Resources stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total value of $4,006,100.00. Following the transaction, the insider owned 31,938 shares in the company, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,553 shares of company stock valued at $11,707,455 over the last three months. 1.34% of the stock is owned by company insiders.

Targa Resources Stock Performance

TRGP stock opened at $235.55 on Friday. The company has a 50-day simple moving average of $199.75 and a 200 day simple moving average of $177.90. The company has a market capitalization of $50.63 billion, a P/E ratio of 27.42, a PEG ratio of 1.01 and a beta of 0.88. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $237.50.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. Sell-side analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 1.7%. Targa Resources’s payout ratio is presently 46.57%.

Analyst Ratings Changes

TRGP has been the topic of a number of recent research reports. Wall Street Zen cut Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $207.00 to $248.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Stifel Nicolaus upped their target price on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $241.00 price target on shares of Targa Resources in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $238.50.

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.