Fort Washington Investment Advisors Inc. OH Sells 8,676 Shares of Targa Resources, Inc. $TRGP

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 25.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,956 shares of the pipeline company’s stock after selling 8,676 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Targa Resources were worth $4,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC acquired a new position in Targa Resources in the 4th quarter valued at $4,050,000. Olistico Wealth LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at $27,000. Peak Financial Advisors LLC grew its holdings in shares of Targa Resources by 221.3% during the 4th quarter. Peak Financial Advisors LLC now owns 14,101 shares of the pipeline company’s stock worth $2,602,000 after purchasing an additional 9,712 shares in the last quarter. PUREfi Wealth LLC bought a new position in shares of Targa Resources in the fourth quarter worth $313,000. Finally, Czech National Bank increased its position in shares of Targa Resources by 3.6% in the fourth quarter. Czech National Bank now owns 56,603 shares of the pipeline company’s stock worth $10,443,000 after purchasing an additional 1,948 shares during the period. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRGP shares. Truist Financial started coverage on shares of Targa Resources in a research report on Tuesday. They set a “buy” rating and a $279.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Stifel Nicolaus boosted their target price 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. Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $241.00 price objective on shares of Targa Resources in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and a consensus price target of $252.57.

Targa Resources Price Performance

Shares of TRGP stock opened at $250.57 on Friday. The business has a fifty day simple moving average of $223.17 and a 200 day simple moving average of $188.41. The company has a market cap of $53.86 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.64 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $253.40.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. The firm 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 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. Investors of record on Friday, January 30th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, January 30th. Targa Resources’s dividend payout ratio is currently 46.57%.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the sale, the insider owned 31,938 shares of the company’s stock, valued at $7,311,246.96. This trade represents a 35.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the business’s 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 sale, the insider owned 197,401 shares in the company, valued at $47,640,757.34. This represents a 11.08% 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 owned by corporate insiders.

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.