Transcend Capital Advisors LLC Purchases New Position in Targa Resources, Inc. $TRGP

Transcend Capital Advisors LLC acquired a new position in shares of Targa Resources, Inc. (NYSE:TRGP) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,552 shares of the pipeline company’s stock, valued at approximately $428,000.

A number of other institutional investors have also recently modified their holdings of the business. State of Wyoming raised its stake in shares of Targa Resources by 3.2% during the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock worth $361,000 after buying an additional 64 shares during the period. QRG Capital Management Inc. grew its position in shares of Targa Resources by 0.8% in the second quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock valued at $1,618,000 after purchasing an additional 72 shares during the period. ICONIQ Capital LLC increased its stake in shares of Targa Resources by 5.7% during the second quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 78 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Targa Resources by 10.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock worth $140,000 after purchasing an additional 79 shares during the last quarter. Finally, SL Advisors LLC lifted its stake in Targa Resources by 0.4% in the 3rd quarter. SL Advisors LLC now owns 18,452 shares of the pipeline company’s stock valued at $3,091,000 after buying an additional 81 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Targa Resources

In related news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $172.21, for a total value of $3,444,200.00. Following the sale, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. The trade was a 47.46% 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 Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.21, for a total value of $498,327.50. Following the transaction, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Royal Bank Of Canada upped their target price on shares of Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Weiss Ratings upgraded shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. BMO Capital Markets upped their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, UBS Group reiterated a “buy” rating on shares of Targa Resources in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.50.

Targa Resources Trading Up 2.5%

Shares of Targa Resources stock opened at $203.54 on Wednesday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $211.87. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market capitalization of $43.69 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 0.85 and a beta of 0.88. The stock has a 50 day moving average of $183.88 and a 200 day moving average of $170.71.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. As a group, research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%.

Targa Resources Profile

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.