Paragon Private Wealth Management LLC Sells 2,960 Shares of Targa Resources, Inc. $TRGP

Paragon Private Wealth Management LLC lessened its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 49.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,074 shares of the pipeline company’s stock after selling 2,960 shares during the period. Paragon Private Wealth Management LLC’s holdings in Targa Resources were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TRGP. Atlantic Union Bankshares Corp bought a new position in Targa Resources in the fourth quarter valued at approximately $27,000. Miller Capital Partners Inc. bought a new stake in shares of Targa Resources during the 4th quarter valued at $30,000. Leonteq Securities AG acquired a new position in shares of Targa Resources in the 4th quarter valued at $31,000. Jones Financial Companies Lllp acquired a new position in shares of Targa Resources in the 2nd quarter valued at $32,000. Finally, Compass Financial Management LLC bought a new position in shares of Targa Resources in the 2nd quarter worth $33,000. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen upped their price target on Targa Resources from $270.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Barclays boosted their price objective on shares of Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Morgan Stanley upped their target price on shares of Targa Resources from $333.00 to $343.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. Finally, Erste Group Bank started coverage on shares of Targa Resources in a research report on Thursday, June 25th. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and an average target price of $301.18.

Insider Transactions at Targa Resources

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the transaction, the director directly owned 62,292 shares in the company, valued at $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Waters S. Iv Davis sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the transaction, the director directly owned 1,529 shares in the company, valued at $458,195.43. This trade represents a 61.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is currently owned by insiders.

Targa Resources Price Performance

NYSE TRGP opened at $293.44 on Thursday. The firm’s 50 day moving average is $276.76 and its 200-day moving average is $258.98. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The company has a market capitalization of $62.92 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.41 and a beta of 0.72. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $307.94.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Equities research analysts anticipate that Targa Resources, Inc. will post 11.23 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $1.25 dividend. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is presently 47.80%.

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.