B. Riley Wealth Advisors Inc. Sells 3,161 Shares of Targa Resources Corp. (NYSE:TRGP)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 24.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,031 shares of the pipeline company’s stock after selling 3,161 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Targa Resources were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in shares of Targa Resources during the 3rd quarter valued at $7,206,000. Franklin Resources Inc. lifted its stake in Targa Resources by 10.2% in the third quarter. Franklin Resources Inc. now owns 524,336 shares of the pipeline company’s stock worth $77,607,000 after purchasing an additional 48,600 shares during the last quarter. Tidal Investments LLC boosted its position in Targa Resources by 326.3% during the third quarter. Tidal Investments LLC now owns 13,572 shares of the pipeline company’s stock valued at $2,009,000 after buying an additional 10,388 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Targa Resources during the third quarter valued at about $145,000. Finally, Sfmg LLC increased 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 worth $463,000 after buying an additional 100 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Insider Transactions at Targa Resources

In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the sale, the director now owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,260 shares of company stock valued at $29,661,212 in the last quarter. 1.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TRGP shares. Wells Fargo & Company increased their target price on Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus raised their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Targa Resources has a consensus rating of “Buy” and an average target price of $176.14.

Targa Resources Trading Down 0.7 %

NYSE:TRGP opened at $183.39 on Tuesday. The firm has a market capitalization of $39.99 billion, a P/E ratio of 33.16, a PEG ratio of 0.73 and a beta of 2.28. 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 one year low of $81.03 and a one year high of $209.87. The company’s 50-day simple moving average is $182.56 and its 200 day simple moving average is $153.25.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the prior year, the business posted $0.97 EPS. As a group, analysts forecast that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.64%. Targa Resources’s payout ratio is presently 54.25%.

About Targa Resources

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.