Diversify Wealth Management LLC Makes New $513,000 Investment in Targa Resources, Inc. $TRGP

Diversify Wealth Management LLC bought a new stake in Targa Resources, Inc. (NYSE:TRGP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,050 shares of the pipeline company’s stock, valued at approximately $513,000.

Other large investors also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new position in Targa Resources in the 4th quarter valued at $27,000. Atlantic Union Bankshares Corp acquired a new position in Targa Resources in the 4th quarter valued at $27,000. Miller Capital Partners Inc. bought a new stake in shares of Targa Resources during the 4th quarter valued at $30,000. Leonteq Securities AG bought a new stake in shares of Targa Resources during the 4th quarter valued at $31,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in shares of Targa Resources during the 4th quarter worth $37,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRGP shares. UBS Group reaffirmed a “buy” rating and issued a $318.00 price target on shares of Targa Resources in a research note on Thursday, July 9th. Jefferies Financial Group assumed coverage on shares of Targa Resources in a report on Thursday, June 18th. They issued a “buy” rating and a $314.00 target price on the stock. TD Cowen boosted their target price on shares of Targa Resources from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday. Scotiabank upped their price target on shares of Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Barclays increased their price target on shares of Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.93.

Targa Resources Stock Up 1.1%

Shares of NYSE:TRGP opened at $283.39 on Friday. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $285.56. The company has a market capitalization of $60.83 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The company has a fifty day moving average of $267.82 and a 200-day moving average of $238.58.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. On average, equities analysts predict that Targa Resources, Inc. will post 10.74 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio is currently 50.56%.

Insider Activity

In related news, Director Charles R. Crisp sold 10,602 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the completion of the transaction, the director owned 66,492 shares in the company, valued at $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is owned by corporate insiders.

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.