Capital Investment Advisors LLC Buys 2,854 Shares of Targa Resources, Inc. $TRGP

Capital Investment Advisors LLC raised its stake in Targa Resources, Inc. (NYSE:TRGP) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,727 shares of the pipeline company’s stock after purchasing an additional 2,854 shares during the quarter. Capital Investment Advisors LLC’s holdings in Targa Resources were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Woodline Partners LP lifted its stake in Targa Resources by 40.7% during the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after acquiring an additional 5,327 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Targa Resources by 157.4% in the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after acquiring an additional 2,404 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Targa Resources by 2.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 8,431 shares of the pipeline company’s stock valued at $1,468,000 after purchasing an additional 176 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Targa Resources by 45.7% in the second quarter. Advisors Asset Management Inc. now owns 9,818 shares of the pipeline company’s stock valued at $1,709,000 after purchasing an additional 3,079 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in shares of Targa Resources by 46.9% during the second quarter. Vinva Investment Management Ltd now owns 15,105 shares of the pipeline company’s stock valued at $2,634,000 after purchasing an additional 4,822 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TRGP. Wells Fargo & Company upped their price objective on shares of Targa Resources from $248.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. BMO Capital Markets reissued an “outperform” rating and set a $241.00 target price 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. Stifel Nicolaus upped their target price on Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, UBS Group increased their price target on Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.57.

Targa Resources Stock Performance

Shares of TRGP stock opened at $250.57 on Friday. The firm has a market cap of $53.86 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.64 and a beta of 0.84. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $253.40. The firm’s 50-day simple moving average is $223.17 and its two-hundred day simple moving average is $188.60.

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 analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.12 billion. As a group, equities analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company 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 dividend yield of 1.6%. Targa Resources’s payout ratio is presently 46.57%.

Insider Activity

In related news, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the sale, the director owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick J. Mcdonie sold 31,537 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $239.36, for a total value of $7,548,696.32. Following the completion of the sale, the insider owned 305,163 shares in the company, valued at $73,043,815.68. This represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is owned by company 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.