3,738 Shares in Targa Resources, Inc. $TRGP Bought by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. purchased a new stake in Targa Resources, Inc. (NYSE:TRGP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,738 shares of the pipeline company’s stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Peoples Financial Services CORP. bought a new position in Targa Resources in the 3rd quarter valued at about $34,000. Root Financial Partners LLC bought a new stake in Targa Resources during the 3rd quarter worth approximately $39,000. Avion Wealth raised its stake 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 purchasing an additional 228 shares during the last quarter. First Horizon Corp bought a new position in shares of Targa Resources in the third quarter valued at approximately $47,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Targa Resources in the second quarter valued at approximately $53,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.7%

Shares of TRGP stock opened at $238.99 on Friday. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.04 and a beta of 0.84. The company’s fifty day simple moving average is $204.36 and its two-hundred day simple moving average is $179.93. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $250.00. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.16. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%.The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. As a group, analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $1.00 dividend. The ex-dividend date was Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is currently 46.57%.

Insider Buying and Selling at Targa Resources

In other news, President Jennifer R. Kneale sold 29,509 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $230.12, for a total value of $6,790,611.08. Following the completion of the transaction, the president directly owned 235,260 shares in the company, valued at approximately $54,138,031.20. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lindsey Cooksen sold 435 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total transaction of $100,798.20. Following the transaction, the director directly owned 11,670 shares of the company’s stock, valued at approximately $2,704,172.40. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 80,340 shares of company stock worth $18,757,824. 1.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRGP. Citigroup raised their price objective on Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their price target on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research report on Friday, February 20th. TD Cowen boosted their price target on shares of Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $241.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $240.79.

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.