111 Capital Invests $376,000 in Targa Resources, Inc. $TRGP

111 Capital acquired a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,244 shares of the pipeline company’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Peoples Financial Services CORP. bought a new position in Targa Resources in the third quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Targa Resources in the 3rd quarter worth approximately $39,000. Avion Wealth grew its position in shares of 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 buying an additional 228 shares during the last quarter. First Horizon Corp bought a new position in shares of Targa Resources during the 3rd quarter worth approximately $47,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Targa Resources during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $243.71 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $250.00. The company has a 50 day simple moving average of $202.07 and a two-hundred day simple moving average of $179.06. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.03 and a beta of 0.84.

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

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid 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 dividend yield of 1.6%. Targa Resources’s dividend payout ratio (DPR) is presently 46.57%.

Insiders Place Their Bets

In related news, insider Gerald R. Shrader sold 2,750 shares of Targa Resources stock in a transaction that occurred 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 transaction, the insider directly owned 29,561 shares in the company, valued at approximately $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 1,359 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the transaction, the director directly owned 77,094 shares of the company’s stock, valued at $17,677,654.20. The trade was a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 51,553 shares of company stock worth $11,707,455. 1.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Targa Resources in a report on Tuesday, February 24th. Barclays reissued an “overweight” rating and issued a $226.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. TD Cowen boosted their target price on Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $242.00 price target on shares of Targa Resources in a research note on Friday, February 20th. Finally, Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. One 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.79.

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.