Avior Wealth Management LLC Has $349,000 Stock Position in Targa Resources Corp. (NYSE:TRGP)

Avior Wealth Management LLC increased its stake in Targa Resources Corp. (NYSE:TRGP) by 76.7% during the third quarter, HoldingsChannel reports. The firm owned 2,361 shares of the pipeline company’s stock after acquiring an additional 1,025 shares during the period. Avior Wealth Management LLC’s holdings in Targa Resources were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Caxton Associates LP acquired a new stake in Targa Resources during the 2nd quarter valued at $2,323,000. Cetera Investment Advisers grew its holdings in shares of Targa Resources by 215.2% during the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock valued at $3,478,000 after buying an additional 21,200 shares in the last quarter. California State Teachers Retirement System raised its position in Targa Resources by 6.5% during the first quarter. California State Teachers Retirement System now owns 444,530 shares of the pipeline company’s stock valued at $49,783,000 after buying an additional 27,164 shares during the period. Virtu Financial LLC purchased a new stake in Targa Resources in the 1st quarter worth about $1,151,000. Finally, Braun Stacey Associates Inc. acquired a new stake in Targa Resources during the 3rd quarter worth about $11,042,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Price Performance

Targa Resources stock opened at $207.34 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $45.21 billion, a P/E ratio of 37.49, a PEG ratio of 0.81 and a beta of 2.24. The business has a 50-day moving average of $168.18 and a 200-day moving average of $143.27. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the previous year, the company earned $0.97 earnings per share. On average, equities analysts anticipate that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.45%. Targa Resources’s dividend payout ratio is presently 54.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRGP. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Barclays increased their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. UBS Group boosted their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Argus raised Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Targa Resources currently has an average rating of “Buy” and an average target price of $176.50.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,760 shares of company stock valued at $30,026,712. Company insiders own 1.39% of the company’s stock.

Targa Resources Company Profile

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.