Targa Resources Corp. (NYSE:TRGP) Shares Sold by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. cut its position in shares of Targa Resources Corp. (NYSE:TRGP) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,137 shares of the pipeline company’s stock after selling 122 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Targa Resources were worth $203,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TRGP. US Bancorp DE increased its position in shares of Targa Resources by 7.3% during the 3rd quarter. US Bancorp DE now owns 24,037 shares of the pipeline company’s stock valued at $3,558,000 after purchasing an additional 1,628 shares during the period. Gladstone Institutional Advisory LLC acquired a new position in shares of Targa Resources during the 3rd quarter valued at $382,000. Farther Finance Advisors LLC grew its holdings in shares of Targa Resources by 1,217.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,270 shares of the pipeline company’s stock worth $632,000 after acquiring an additional 3,946 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Targa Resources by 8.0% in the 3rd quarter. Van ECK Associates Corp now owns 71,523 shares of the pipeline company’s stock worth $10,586,000 after acquiring an additional 5,288 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Targa Resources by 599.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock worth $42,619,000 after acquiring an additional 246,762 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TRGP shares. The Goldman Sachs Group lifted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Citigroup lifted their target price on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada lifted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays lifted their target price on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $207.00.

Insider Activity at Targa Resources

In other news, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. Insiders own 1.39% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $190.20 on Wednesday. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 1 year low of $100.30 and a 1 year high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a fifty day moving average price of $198.48 and a 200 day moving average price of $179.36.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. Targa Resources’s payout ratio is 52.26%.

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.