Targa Resources, Inc. $TRGP Shares Purchased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 93.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,632 shares of the pipeline company’s stock after purchasing an additional 16,733 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Targa Resources were worth $5,802,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Baird Financial Group Inc. raised its holdings in Targa Resources by 8.1% in the first quarter. Baird Financial Group Inc. now owns 3,478 shares of the pipeline company’s stock valued at $697,000 after acquiring an additional 260 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Targa Resources in the 1st quarter valued at about $680,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Targa Resources in the 1st quarter valued at about $341,000. Federation des caisses Desjardins du Quebec lifted its position in shares of Targa Resources by 74.1% during the first quarter. Federation des caisses Desjardins du Quebec now owns 22,344 shares of the pipeline company’s stock worth $4,480,000 after purchasing an additional 9,510 shares during the last quarter. Finally, Paragon Private Wealth Management LLC acquired a new position in Targa Resources in the first quarter worth about $286,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling

In other news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was 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 directly owned 22,139 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.34% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $185.70 on Wednesday. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market capitalization of $39.86 billion, a PE ratio of 24.69, a P/E/G ratio of 1.06 and a beta of 0.89. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $218.51. The business’s fifty day moving average price is $171.88 and its two-hundred day moving average price is $167.82.

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

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were paid a $1.00 dividend. The ex-dividend date was Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%.

Analysts Set New Price Targets

TRGP has been the topic of several research reports. Wall Street Zen cut Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. 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 report on Thursday, November 13th. BMO Capital Markets lifted their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley increased their target price on shares of Targa Resources from $240.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, Royal Bank Of Canada raised their price target on shares of Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. One research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.79.

Targa Resources Company 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.