Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Creekmur Asset Management LLC

Creekmur Asset Management LLC grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,946 shares of the pipeline company’s stock after purchasing an additional 677 shares during the period. Creekmur Asset Management LLC’s holdings in Targa Resources were worth $1,240,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its holdings in Targa Resources by 0.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after acquiring an additional 66 shares during the period. Fisher Asset Management LLC grew its stake in shares of Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after purchasing an additional 67 shares during the period. Mather Group LLC. increased its holdings in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares in the last quarter. Keybank National Association OH lifted its stake in shares of Targa Resources by 0.4% in the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the period. Finally, Huntington National Bank boosted its holdings in Targa Resources by 16.5% during the fourth quarter. Huntington National Bank now owns 557 shares of the pipeline company’s stock worth $99,000 after buying an additional 79 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of research reports. Mizuho lifted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Scotiabank decreased their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Royal Bank of Canada raised their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $211.00.

Insider Transactions at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares of the company’s stock, valued at $568,957.74. This represents a 43.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. The trade was a 6.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 in the last ninety days. Insiders own 1.39% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $203.16 on Wednesday. The stock has a fifty day moving average price of $198.72 and a 200 day moving average price of $186.09. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The firm has a market capitalization of $44.31 billion, a P/E ratio of 35.39, a PEG ratio of 0.61 and a beta of 2.32. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Equities research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. 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.