Targa Resources Corp. (NYSE:TRGP) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in Targa Resources Corp. (NYSE:TRGP) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,287 shares of the pipeline company’s stock after acquiring an additional 310 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Targa Resources were worth $174,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Whittier Trust Co. bought a new stake in shares of Targa Resources in the second quarter worth $44,000. Register Financial Advisors LLC acquired a new stake in Targa Resources in the first quarter valued at $45,000. Rogco LP bought a new position in Targa Resources during the 1st quarter valued at $56,000. Finally, EdgeRock Capital LLC acquired a new position in Targa Resources during the 2nd quarter worth $69,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In related news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gerald R. Shrader sold 3,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,434 shares of company stock valued at $4,775,590. 1.39% of the stock is currently owned by corporate insiders.

Targa Resources Stock Down 0.6 %

TRGP stock opened at $155.55 on Thursday. The stock has a market cap of $34.49 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.23 and a beta of 2.26. The firm’s 50-day simple moving average is $142.28 and its 200 day simple moving average is $126.52. Targa Resources Corp. has a fifty-two week low of $77.97 and a fifty-two week high of $157.68. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter last year, the business earned $1.44 earnings per share. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.88 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, July 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. Targa Resources’s dividend payout ratio (DPR) is presently 61.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TRGP shares. Barclays upped their target price on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group upped their price objective on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company lifted their target price on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, Argus raised shares of Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $141.77.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.