Targa Resources Corp. (NYSE:TRGP) Shares Bought by Range Financial Group LLC

Range Financial Group LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 36.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,216 shares of the pipeline company’s stock after purchasing an additional 596 shares during the period. Range Financial Group LLC’s holdings in Targa Resources were worth $396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. DT Investment Partners LLC acquired a new stake in Targa Resources in the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Targa Resources during the second quarter valued at $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources in the third quarter valued at about $35,000. Huntington National Bank grew its position in shares of Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Targa Resources by 36.1% during the third quarter. Venturi Wealth Management LLC now owns 532 shares of the pipeline company’s stock worth $79,000 after purchasing an additional 141 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TRGP shares. Wells Fargo & Company lifted their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group increased their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley lifted their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their target price on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $181.43.

Insider Transactions at Targa Resources

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

Targa Resources Trading Up 0.9 %

TRGP opened at $187.76 on Wednesday. The stock has a market capitalization of $40.94 billion, a PE ratio of 33.95, a P/E/G ratio of 0.73 and a beta of 2.30. Targa Resources Corp. has a one year low of $81.03 and a one year high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The business’s 50 day moving average price is $187.61 and its 200 day moving average price is $159.92.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the business posted $0.97 EPS. As a group, equities research analysts expect that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Targa Resources 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.