Targa Resources Corp. (NYSE:TRGP) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC decreased its position in Targa Resources Corp. (NYSE:TRGP) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,743 shares of the pipeline company’s stock after selling 2,882 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Targa Resources were worth $3,958,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Targa Resources during the 2nd quarter worth about $29,000. UMB Bank n.a. raised its holdings in Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Targa Resources during the 2nd quarter worth approximately $44,000. Register Financial Advisors LLC acquired a new position in shares of Targa Resources in the 1st quarter valued at $45,000. Finally, Rogco LP purchased a new position in shares of Targa Resources in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.4 %

NYSE TRGP opened at $165.83 on Thursday. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $167.79. The firm has a 50-day moving average price of $151.99 and a 200 day moving average price of $133.31. The stock has a market capitalization of $36.77 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.27 and a beta of 2.25. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period in the prior year, the company posted $1.44 EPS. Equities research analysts expect that Targa Resources Corp. will post 6 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio is currently 61.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TRGP shares. Truist Financial boosted their price target on shares of Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America initiated coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price for the company. Argus upgraded Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price objective on Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and an average price target of $148.36.

Insider Activity at Targa Resources

In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the sale, the insider now directly owns 29,603 shares in the company, valued at approximately $4,027,784.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of Targa Resources stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the transaction, the insider now owns 29,603 shares in the company, valued at approximately $4,027,784.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the completion of the sale, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,534 shares of company stock valued at $26,815,021 in the last ninety days. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Company 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.