Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC lifted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 2,111.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,327 shares of the pipeline company’s stock after acquiring an additional 1,267 shares during the period. Larson Financial Group LLC’s holdings in Targa Resources were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. grew its stake in Targa Resources by 3.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,920 shares of the pipeline company’s stock worth $1,616,000 after buying an additional 344 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Targa Resources during the 3rd quarter worth approximately $159,000. Venturi Wealth Management LLC grew its stake in Targa Resources by 36.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 532 shares of the pipeline company’s stock worth $79,000 after buying an additional 141 shares during the last quarter. Entropy Technologies LP grew its stake in Targa Resources by 78.0% during the 3rd quarter. Entropy Technologies LP now owns 38,425 shares of the pipeline company’s stock worth $5,687,000 after buying an additional 16,836 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Targa Resources by 9.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,163 shares of the pipeline company’s stock worth $76,693,000 after buying an additional 45,590 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction on 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 transaction, the insider now directly owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.44% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRGP shares. Royal Bank of Canada raised their price target on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Scotiabank dropped their price target 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. Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group lifted their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Barclays lifted their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $206.43.

Targa Resources Stock Up 1.5 %

Targa Resources stock opened at $181.06 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1-year low of $104.24 and a 1-year high of $218.51. The company has a market cap of $39.49 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The stock’s 50 day moving average price is $198.83 and its 200 day moving average price is $180.73.

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

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.66%. Targa Resources’s dividend payout ratio is presently 52.26%.

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.