Targa Resources Corp. (NYSE:TRGP) Insider Sells $13,000.00 in Stock

Targa Resources Corp. (NYSE:TRGP) insider Robert Muraro sold 100 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.00, for a total transaction of $13,000.00. Following the sale, the insider now directly owns 196,851 shares in the company, valued at $25,590,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Robert Muraro also recently made the following trade(s):

• On Monday, June 10th, Robert Muraro sold 10,000 shares of Targa Resources stock. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00.

Targa Resources Trading Up 0.2 %

TRGP stock opened at $128.78 on Friday. The company has a market capitalization of $28.55 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 0.76 and a beta of 2.21. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.62 and a current ratio of 0.70. Targa Resources Corp. has a 52 week low of $74.20 and a 52 week high of $130.53. The company’s 50-day simple moving average is $118.04 and its 200 day simple moving average is $103.99.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.28 billion. Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. As a group, sell-side analysts anticipate that Targa Resources Corp. will post 5.27 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, April 29th. Targa Resources’s dividend payout ratio is presently 61.73%.

Institutional Investors Weigh In On Targa Resources

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Targa Resources by 0.8% during the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock worth $3,025,521,000 after buying an additional 201,817 shares in the last quarter. Blackstone Inc. boosted its stake in shares of Targa Resources by 2.7% in the 1st quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after purchasing an additional 252,729 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Targa Resources by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock valued at $713,107,000 after purchasing an additional 401,144 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Targa Resources by 200.4% in the 3rd quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company’s stock valued at $478,063,000 after purchasing an additional 3,720,270 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Targa Resources by 16.1% in the 3rd quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock valued at $325,003,000 after purchasing an additional 524,794 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on TRGP. Scotiabank upped their price target on shares of Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 15th. UBS Group increased their price objective on shares of Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Stifel Nicolaus increased their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Targa Resources from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.46.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.