Targa Resources, Inc. $TRGP Shares Bought by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lifted its holdings in Targa Resources, Inc. (NYSE:TRGP) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,834,117 shares of the pipeline company’s stock after acquiring an additional 8,559 shares during the quarter. Targa Resources makes up approximately 13.9% of Chickasaw Capital Management LLC’s holdings, making the stock its largest holding. Chickasaw Capital Management LLC’s holdings in Targa Resources were worth $338,395,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TRGP. Norges Bank acquired a new stake in Targa Resources during the 2nd quarter valued at $708,366,000. Wellington Management Group LLP boosted its stake in Targa Resources by 9.0% in the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock worth $3,291,012,000 after purchasing an additional 1,620,253 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Targa Resources in the third quarter worth $121,426,000. Franklin Resources Inc. grew its holdings in shares of Targa Resources by 306.6% during the second quarter. Franklin Resources Inc. now owns 601,370 shares of the pipeline company’s stock worth $104,686,000 after purchasing an additional 453,460 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Targa Resources by 1.5% in 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 buying an additional 422,075 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, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction that occurred 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 directly owned 31,938 shares of the company’s stock, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick J. Mcdonie sold 31,537 shares of Targa Resources stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 104,929 shares of company stock valued at $24,692,134 over the last 90 days. Company insiders own 1.34% of the company’s stock.

Targa Resources Trading Up 0.9%

Shares of TRGP opened at $239.54 on Tuesday. The stock’s fifty day simple moving average is $217.93 and its 200-day simple moving average is $186.35. The firm has a market capitalization of $51.49 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.55 and a beta of 0.84. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $250.00. 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 (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates 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 predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays reaffirmed an “overweight” rating and issued a $226.00 price target on shares of Targa Resources in a report on Friday, February 20th. Weiss Ratings upgraded shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Citigroup upped their target price on shares of Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley increased their price target on shares of Targa Resources from $266.00 to $298.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average target price of $246.54.

About Targa Resources

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.