Advisory Alpha LLC Buys 260 Shares of Targa Resources Corp. (NYSE:TRGP)

Advisory Alpha LLC grew its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,520 shares of the pipeline company’s stock after purchasing an additional 260 shares during the quarter. Advisory Alpha LLC’s holdings in Targa Resources were worth $628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRGP. Sei Investments Co. grew its holdings in Targa Resources by 21.0% during the second quarter. Sei Investments Co. now owns 186,322 shares of the pipeline company’s stock worth $23,995,000 after purchasing an additional 32,323 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Targa Resources by 2.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 9,337 shares of the pipeline company’s stock worth $1,202,000 after acquiring an additional 245 shares during the period. ProShare Advisors LLC increased its holdings in shares of Targa Resources by 1.4% during the 2nd quarter. ProShare Advisors LLC now owns 71,693 shares of the pipeline company’s stock worth $9,233,000 after acquiring an additional 979 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Targa Resources by 31.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,287 shares of the pipeline company’s stock valued at $174,000 after acquiring an additional 310 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Targa Resources by 4.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,494 shares of the pipeline company’s stock valued at $4,957,000 after purchasing an additional 1,585 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, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

Targa Resources Trading Down 2.8 %

TRGP opened at $211.11 on Thursday. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 0.65 and a beta of 2.30. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a twelve month low of $82.85 and a twelve month high of $218.51. The company has a 50-day simple moving average of $192.44 and a 200 day simple moving average of $165.11.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts predict that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Targa Resources’s payout ratio is 54.25%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays upped their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Scotiabank started coverage on shares of Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target on the stock. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Morgan Stanley increased their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Bank of America initiated coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources 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.