Aberdeen Group plc Sells 19,858 Shares of Targa Resources, Inc. $TRGP

Aberdeen Group plc lowered its stake in Targa Resources, Inc. (NYSE:TRGP) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,713 shares of the pipeline company’s stock after selling 19,858 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Targa Resources worth $26,330,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRGP. Alps Advisors Inc. grew its holdings in Targa Resources by 5.5% in the 3rd quarter. Alps Advisors Inc. now owns 143,904 shares of the pipeline company’s stock valued at $24,110,000 after buying an additional 7,497 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Targa Resources by 137.9% in the third quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock valued at $11,164,000 after acquiring an additional 38,626 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Targa Resources by 2.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 682,300 shares of the pipeline company’s stock valued at $114,313,000 after acquiring an additional 16,000 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Targa Resources by 5.0% in the third quarter. Envestnet Asset Management Inc. now owns 484,462 shares of the pipeline company’s stock valued at $81,167,000 after acquiring an additional 22,969 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Targa Resources by 13.5% during the third quarter. Nordea Investment Management AB now owns 146,368 shares of the pipeline company’s stock worth $24,325,000 after acquiring an additional 17,457 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRGP has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $196.00 target price on shares of Targa Resources in a research report on Monday, January 12th. Royal Bank Of Canada boosted their price target on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Stifel Nicolaus set a $213.00 price target on Targa Resources in a research report on Thursday, November 6th. UBS Group restated a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Finally, Wells Fargo & Company upped their target price on Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and a consensus price target of $213.50.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $224.07 on Wednesday. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $226.00. The stock has a market capitalization of $48.10 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. The company’s 50 day simple moving average is $191.86 and its 200 day simple moving average is $174.32.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 30th. Targa Resources’s dividend payout ratio is currently 53.19%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of Targa Resources stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the transaction, the insider owned 29,561 shares in the company, valued at $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.34% of the stock is currently owned by corporate insiders.

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.