Fort Washington Investment Advisors Inc. OH Has $4.79 Million Stock Holdings in Targa Resources, Inc. $TRGP

Fort Washington Investment Advisors Inc. OH reduced its holdings in Targa Resources, Inc. (NYSE:TRGP) by 25.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,956 shares of the pipeline company’s stock after selling 8,676 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Targa Resources were worth $4,789,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sendero Wealth Management LLC bought a new stake in shares of Targa Resources in the fourth quarter worth $4,050,000. Olistico Wealth LLC bought a new position in Targa Resources during the 4th quarter worth $27,000. Peak Financial Advisors LLC lifted its holdings in Targa Resources by 221.3% during the 4th quarter. Peak Financial Advisors LLC now owns 14,101 shares of the pipeline company’s stock worth $2,602,000 after buying an additional 9,712 shares during the period. PUREfi Wealth LLC acquired a new position in Targa Resources during the 4th quarter worth about $313,000. Finally, Czech National Bank grew its position in shares of Targa Resources by 3.6% in the 4th quarter. Czech National Bank now owns 56,603 shares of the pipeline company’s stock valued at $10,443,000 after buying an additional 1,948 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 24,589 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the transaction, the insider directly owned 197,401 shares of the company’s stock, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the completion of the sale, the insider owned 31,938 shares of the company’s stock, valued at $7,311,246.96. The trade was a 35.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 104,929 shares of company stock worth $24,692,134. Corporate insiders own 1.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays restated an “overweight” rating and set a $226.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. Royal Bank Of Canada increased their target price on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wells Fargo & Company raised their price target on shares of Targa Resources from $248.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. BMO Capital Markets restated an “outperform” rating and issued a $241.00 price target on shares of Targa Resources in a research report on Friday, February 20th. Finally, UBS Group upped their price objective on shares of Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have 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 data from MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and an average price target of $252.57.

Targa Resources Stock Up 0.0%

Shares of NYSE:TRGP opened at $250.57 on Friday. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $253.40. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. The business’s 50-day moving average is $223.17 and its 200-day moving average is $188.41. The company has a market capitalization of $53.86 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.64 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. Equities research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Targa Resources’s dividend payout ratio (DPR) is 46.57%.

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.