Targa Resources (NYSE:TRGP) Insider Robert Muraro Sells 24,589 Shares of Stock

Targa Resources, Inc. (NYSE:TRGP) insider Robert Muraro sold 24,589 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider directly owned 197,401 shares in the company, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $237.30 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $250.00. The company has a 50 day simple moving average of $205.45 and a two-hundred day simple moving average of $180.45. The stock has a market cap of $51.01 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.02 and a beta of 0.84.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.35 by $0.16. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. As a group, analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is presently 46.57%.

Institutional Trading of Targa Resources

A number of institutional investors and hedge funds have recently modified their holdings of TRGP. Hantz Financial Services Inc. boosted its holdings in Targa Resources by 10.5% in the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock worth $97,000 after buying an additional 50 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Targa Resources by 0.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock valued at $1,376,000 after acquiring an additional 51 shares during the last quarter. First Horizon Corp lifted its position in shares of Targa Resources by 20.1% in the fourth quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 57 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Targa Resources by 4.1% in the third quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 60 shares in the last quarter. Finally, Equitable Holdings Inc. boosted its stake in shares of Targa Resources by 3.6% in the third quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock worth $287,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRGP. The Goldman Sachs Group reiterated a “buy” rating and issued a $242.00 target price on shares of Targa Resources in a research note on Friday, February 20th. Barclays restated an “overweight” rating and set a $226.00 price target on shares of Targa Resources in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. TD Cowen increased their target price on shares of Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Finally, Stifel Nicolaus increased their target price on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Targa Resources has an average rating of “Moderate Buy” and an average price target of $240.79.

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.