Avantax Advisory Services Inc. Sells 198 Shares of Targa Resources Corp. (NYSE:TRGP)

Avantax Advisory Services Inc. trimmed its position in Targa Resources Corp. (NYSE:TRGP) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,221 shares of the pipeline company’s stock after selling 198 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Targa Resources were worth $1,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its position in shares of Targa Resources by 54.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,166 shares of the pipeline company’s stock valued at $469,000 after purchasing an additional 1,116 shares during the period. KBC Group NV raised its holdings in Targa Resources by 183.8% during the third quarter. KBC Group NV now owns 43,581 shares of the pipeline company’s stock valued at $6,451,000 after acquiring an additional 28,225 shares during the period. Huntington National Bank lifted its position in shares of Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after acquiring an additional 89 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Targa Resources by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 32,182 shares of the pipeline company’s stock worth $4,763,000 after purchasing an additional 2,248 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of Targa Resources by 6.7% during the third quarter. Empirical Finance LLC now owns 4,007 shares of the pipeline company’s stock worth $593,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. The trade was a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the company’s 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 in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 over the last quarter. Insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 3.2 %

NYSE:TRGP opened at $196.39 on Tuesday. The firm has a 50-day simple moving average of $199.28 and a 200-day simple moving average of $181.96. Targa Resources Corp. has a one year low of $106.04 and a one year high of $218.51. The firm has a market cap of $42.83 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.61 and a beta of 2.32. 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 issued its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is currently 52.26%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TRGP. Mizuho lifted their price objective on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Citigroup boosted their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Barclays raised their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Targa Resources currently has a consensus rating of “Buy” and an average price target of $209.43.

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.