Capital Investment Advisors LLC Has $4.34 Million Holdings in Targa Resources, Inc. $TRGP

Capital Investment Advisors LLC grew its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 28.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 25,873 shares of the pipeline company’s stock after purchasing an additional 5,697 shares during the quarter. Capital Investment Advisors LLC’s holdings in Targa Resources were worth $4,335,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TRGP. State of Wyoming boosted its stake in Targa Resources by 3.2% during the second quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 64 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Targa Resources by 11.9% during the second 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 during the period. QRG Capital Management Inc. raised its holdings in shares of Targa Resources by 0.8% during the second 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 boosted its position in shares of Targa Resources by 5.7% during the 2nd quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 78 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Targa Resources by 10.9% in the 2nd 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. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 0.0%

TRGP opened at $176.83 on Friday. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a market cap of $37.96 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. The company has a 50 day moving average of $176.22 and a 200 day moving average of $168.47.

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

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were given a dividend of $1.00 per share. The ex-dividend date was Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Targa Resources’s dividend payout ratio is currently 53.19%.

Insider Activity

In related news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares of the company’s stock, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Targa Resources from $189.00 to $188.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a report on Friday. BMO Capital Markets lifted their price target on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Wells Fargo & Company boosted their price target on shares of Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and an average price target 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.