Targa Resources, Inc. $TRGP Stock Position Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 93.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,632 shares of the pipeline company’s stock after buying an additional 16,733 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Targa Resources were worth $5,802,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State of Wyoming increased its stake in shares of Targa Resources by 3.2% during the second quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock valued at $361,000 after acquiring an additional 64 shares during the period. UMB Bank n.a. boosted its stake in Targa Resources by 11.9% during the 2nd quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock valued at $115,000 after purchasing an additional 70 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Targa Resources by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock valued at $1,618,000 after purchasing an additional 72 shares during the period. ICONIQ Capital LLC raised its stake in shares of Targa Resources by 5.7% in the 2nd quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock worth $250,000 after buying an additional 78 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Targa Resources by 10.9% in the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock valued at $140,000 after buying an additional 79 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

NYSE TRGP opened at $185.70 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51. The company has a market cap of $39.86 billion, a PE ratio of 24.69, a PEG ratio of 1.06 and a beta of 0.89. The stock’s 50-day moving average price is $171.88 and its two-hundred day moving average price is $167.82.

Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a return on equity of 51.87% and a net margin of 9.35%. On average, analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.2%. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

Insider Buying and Selling

In other news, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the transaction, the insider owned 22,139 shares in the company, valued at $3,812,557.19. This represents a 47.46% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $213.00 target price on Targa Resources in a report on Thursday, November 6th. Wells Fargo & Company raised their price objective on shares of Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Scotiabank lifted their price objective on shares of Targa Resources from $198.00 to $199.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. BMO Capital Markets boosted their target price on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Wall Street Zen cut shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.79.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.