Blair William & Co. IL Has $6.70 Million Stock Holdings in Targa Resources, Inc. $TRGP

Blair William & Co. IL boosted its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 33.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,013 shares of the pipeline company’s stock after purchasing an additional 9,940 shares during the quarter. Blair William & Co. IL’s holdings in Targa Resources were worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission.

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

Targa Resources Trading Down 0.9%

Shares of NYSE:TRGP opened at $232.54 on Wednesday. The company’s 50-day moving average price is $207.40 and its two-hundred day moving average price is $181.72. Targa Resources, Inc. has a one year low of $144.14 and a one 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. The stock has a market capitalization of $49.98 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.12 billion. On average, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal 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 given a dividend of $1.00 per share. 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 46.57%.

Insider Activity at Targa Resources

In other news, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the transaction, the insider directly owned 31,938 shares of the company’s stock, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of Targa Resources stock in a transaction on Thursday, March 5th. The shares were 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 of the company’s stock, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 104,929 shares of company stock valued at $24,692,134. Insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TRGP shares. Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. Royal Bank Of Canada lifted their target price on Targa Resources from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. UBS Group reissued a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Stifel Nicolaus increased their price target on Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Morgan Stanley raised their price target on Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.