Capital Investment Advisors LLC Acquires 2,854 Shares of Targa Resources, Inc. $TRGP

Capital Investment Advisors LLC lifted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,727 shares of the pipeline company’s stock after buying an additional 2,854 shares during the quarter. Capital Investment Advisors LLC’s holdings in Targa Resources were worth $5,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in Targa Resources in the 4th quarter valued at approximately $27,000. Peoples Financial Services CORP. purchased a new stake in shares of Targa Resources during the third quarter worth $34,000. Root Financial Partners LLC bought a new position in shares of Targa Resources in the third quarter worth $39,000. Avion Wealth boosted its holdings in shares of Targa Resources by 475.0% in the third quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after acquiring an additional 228 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Targa Resources in the third quarter valued at $47,000. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Targa Resources news, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider owned 197,401 shares of the company’s stock, valued at $47,640,757.34. The trade was a 11.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jennifer R. Kneale sold 29,509 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total transaction of $6,790,611.08. Following the completion of the transaction, the president directly owned 235,260 shares in the company, valued at $54,138,031.20. The trade was a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,929 shares of company stock valued at $24,692,134 in the last 90 days. 1.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group increased their price objective on Targa Resources from $228.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Mizuho lifted their target price on Targa Resources from $207.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. Barclays reiterated an “overweight” rating and set a $226.00 price target on shares of Targa Resources in a research report on Friday, February 20th. Wells Fargo & Company increased 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. Finally, Royal Bank Of Canada raised their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.57.

Targa Resources Trading Up 0.0%

Shares of TRGP stock opened at $250.57 on Friday. The company has a market capitalization of $53.86 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $253.40. The business’s fifty day moving average is $223.17 and its 200 day moving average is $188.60. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67.

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

Targa Resources Dividend Announcement

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

Targa Resources Profile

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.