Targa Resources, Inc. $TRGP Stock Sold by Lido Advisors LLC

Lido Advisors LLC reduced its holdings in Targa Resources, Inc. (NYSE:TRGP) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,830 shares of the pipeline company’s stock after selling 2,352 shares during the quarter. Lido Advisors LLC’s holdings in Targa Resources were worth $2,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Keybank National Association OH boosted its holdings in Targa Resources by 15.6% during the third quarter. Keybank National Association OH now owns 15,287 shares of the pipeline company’s stock worth $4,132,000 after buying an additional 2,064 shares in the last quarter. 71 West Capital Partners grew its position in Targa Resources by 6.2% in the third quarter. 71 West Capital Partners now owns 1,001 shares of the pipeline company’s stock worth $271,000 after buying an additional 58 shares during the last quarter. AlphaCore Capital LLC increased its holdings in shares of Targa Resources by 291.7% in the third quarter. AlphaCore Capital LLC now owns 5,652 shares of the pipeline company’s stock valued at $1,528,000 after buying an additional 4,209 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Targa Resources by 48.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,678 shares of the pipeline company’s stock valued at $62,476,000 after buying an additional 73,474 shares in the last quarter. Finally, StoneRidge PMG Advisors LLC acquired a new stake in shares of Targa Resources during the 3rd quarter valued at $598,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of Targa Resources stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total transaction of $870,690.00. Following the transaction, the director owned 62,292 shares of the company’s stock, valued at $18,079,007.16. The trade was a 4.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,400 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the transaction, the director owned 1,529 shares in the company, valued at $458,195.43. This represents a 61.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,216 shares of company stock valued at $2,127,634. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TRGP. The Goldman Sachs Group reissued a “buy” rating and set a $322.00 price objective on shares of Targa Resources in a research note on Tuesday, October 13th. Barclays boosted their target price on Targa Resources from $284.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, October 8th. Raymond James Financial set a $344.00 target price on Targa Resources in a report on Thursday, November 5th. Jefferies Financial Group reduced their target price on Targa Resources from $326.00 to $311.00 and set a “buy” rating for the company in a report on Friday, November 6th. Finally, Wells Fargo & Company increased their price target on Targa Resources from $324.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 9th. Two investment analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus target price of $326.37.

Targa Resources Stock Up 0.2%

NYSE:TRGP traded up $0.68 during trading hours on Friday, hitting $296.98. 727,280 shares of the stock traded hands, compared to its average volume of 1,405,238. The firm has a 50 day moving average price of $288.78 and a 200 day moving average price of $263.74. The company has a current ratio of 0.74, a quick ratio of 0.66 and a debt-to-equity ratio of 4.87. Targa Resources, Inc. has a fifty-two week low of $166.18 and a fifty-two week high of $316.60. The firm has a market cap of $63.72 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 1.21 and a beta of 0.76.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, November 5th. The pipeline company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.74 by $0.30. Targa Resources had a return on equity of 68.83% and a net margin of 13.45%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Equities research analysts anticipate that Targa Resources, Inc. will post 11.55 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 30th. Targa Resources’s dividend payout ratio is currently 44.25%.

Targa Resources Company Profile

Targa Resources Corp. is a midstream energy company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs), and provides services for crude oil. Its infrastructure connects oil and gas producers with pipelines, processing facilities, fractionators, storage sites and domestic and international markets. The company’s services include natural gas gathering, compression and processing; NGL transportation and fractionation; and crude oil gathering and terminaling. Targa also operates facilities that support the export of NGLs and liquefied petroleum gas products.