Caprock Group LLC Buys Shares of 22,771 Targa Resources, Inc. $TRGP

Caprock Group LLC bought a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,771 shares of the pipeline company’s stock, valued at approximately $3,820,000.

Several other hedge funds have also made changes to their positions in TRGP. Peoples Financial Services CORP. acquired a new stake in shares of Targa Resources in the 3rd quarter worth about $34,000. Root Financial Partners LLC acquired a new position in Targa Resources during the 3rd quarter valued at about $39,000. Avion Wealth grew its position in Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. First Horizon Corp bought a new position in Targa Resources in the 3rd quarter worth about $47,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Targa Resources in the second quarter valued at approximately $53,000. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRGP. Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research report on Thursday, November 6th. Royal Bank Of Canada lifted their target price on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Wells Fargo & Company increased their price target on Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $196.00 price target on shares of Targa Resources in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.50.

Targa Resources Trading Up 2.4%

Shares of TRGP stock opened at $222.18 on Thursday. The stock has a 50-day simple moving average of $188.52 and a 200 day simple moving average of $172.70. The stock has a market capitalization of $47.69 billion, a P/E ratio of 29.54, a P/E/G ratio of 0.93 and a beta of 0.88. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $222.59. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

Insiders Place Their Bets

In other news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares of the company’s stock, valued at $3,812,557.19. This trade represents a 47.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.34% of the company’s stock.

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.