Avior Wealth Management LLC Makes New Investment in Targa Resources, Inc. $TRGP

Avior Wealth Management LLC bought a new position in Targa Resources, Inc. (NYSE:TRGP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,349 shares of the pipeline company’s stock, valued at approximately $618,000.

Several other institutional investors have also modified their holdings of the stock. Peoples Financial Services CORP. acquired a new position in Targa Resources in the 3rd quarter valued at about $34,000. Root Financial Partners LLC acquired a new stake in shares of Targa Resources during the 3rd quarter worth approximately $39,000. Avion Wealth increased its holdings in shares of Targa Resources by 475.0% during the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after buying an additional 228 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Targa Resources during the 3rd quarter valued at approximately $47,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Targa Resources during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays reiterated an “overweight” rating and issued a $226.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. UBS Group reaffirmed a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Royal Bank Of Canada increased their price target on Targa Resources from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. BMO Capital Markets reissued an “outperform” rating and set a $241.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. Finally, TD Cowen upped their target price on shares of Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.54.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 24,589 shares of Targa Resources stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider directly owned 197,401 shares in the company, valued at approximately $47,640,757.34. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 17,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider owned 31,938 shares in the company, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,929 shares of company stock worth $24,692,134 over the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Price Performance

TRGP stock opened at $237.72 on Monday. The business’s fifty day moving average price is $216.63 and its 200 day moving average price is $185.84. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $250.00. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. The company has a market capitalization of $51.10 billion, a PE ratio of 27.67, a P/E/G ratio of 1.55 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last released its 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. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

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.