Secure Asset Management LLC Has $2.38 Million Position in Targa Resources, Inc. $TRGP

Secure Asset Management LLC grew its position in Targa Resources, Inc. (NYSE:TRGP) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,892 shares of the pipeline company’s stock after purchasing an additional 2,114 shares during the period. Secure Asset Management LLC’s holdings in Targa Resources were worth $2,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Woodline Partners LP lifted its holdings in Targa Resources by 40.7% during the first quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after acquiring an additional 5,327 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Targa Resources by 157.4% in the first 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. Beacon Pointe Advisors LLC raised its position in shares of Targa Resources by 11.0% during the second quarter. Beacon Pointe Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $210,000 after purchasing an additional 120 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Targa Resources by 4.1% during the 2nd quarter. Guggenheim Capital LLC now owns 8,669 shares of the pipeline company’s stock valued at $1,509,000 after purchasing an additional 343 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Targa Resources by 6.3% during the 2nd quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock valued at $644,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other news, Director Charles R. Crisp sold 1,359 shares of the firm’s 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 transaction, the director owned 77,094 shares in the company, valued at $17,677,654.20. This trade represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 17,500 shares of Targa Resources stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total value of $4,006,100.00. Following the completion of the sale, the insider directly owned 31,938 shares in the company, valued at approximately $7,311,246.96. This represents a 35.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 104,929 shares of company stock worth $24,692,134. Corporate insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TRGP shares. Wells Fargo & Company increased their target price on Targa Resources from $248.00 to $264.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Barclays reiterated an “overweight” rating and issued a $226.00 price target on shares of Targa Resources in a report on Friday, February 20th. Stifel Nicolaus increased their price objective on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Mizuho raised their price objective on shares of Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Finally, TD Cowen boosted their price objective 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and an average price target of $252.57.

Targa Resources Trading Up 0.1%

NYSE:TRGP opened at $244.57 on Monday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $253.40. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. The business has a 50 day moving average price of $228.95 and a two-hundred day moving average price of $191.66. The company has a market cap of $52.53 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) 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 company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. As a group, analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 1.6%. Targa Resources’s 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.