Targa Resources Corp. (NYSE:TRGP) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,953 shares of the pipeline company’s stock after selling 9,680 shares during the period. Captrust Financial Advisors owned about 0.05% of Targa Resources worth $16,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources during the 2nd quarter worth approximately $29,000. DT Investment Partners LLC acquired a new position in shares of Targa Resources in the third quarter worth $29,000. UMB Bank n.a. lifted its position in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources during the third quarter valued at $35,000. Finally, Whittier Trust Co. purchased a new stake in Targa Resources during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 1.4 %

Shares of NYSE:TRGP opened at $204.30 on Friday. The stock has a 50-day simple moving average of $174.40 and a 200-day simple moving average of $147.26. The stock has a market capitalization of $44.55 billion, a P/E ratio of 36.94, a PEG ratio of 0.80 and a beta of 2.24. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. Equities analysts forecast that Targa Resources Corp. will post 6.28 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.47%. Targa Resources’s dividend payout ratio is currently 54.25%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRGP shares. Barclays upped their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial raised their target price on shares of Targa Resources from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price target on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Argus upgraded Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, UBS Group upped 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. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $176.50.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares in the company, valued at $17,181,399.10. This represents a 57.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock valued at $30,026,712 over the last three months. 1.39% of the stock is owned by company insiders.

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.