Signaturefd LLC Grows Stake in Targa Resources Corp. (NYSE:TRGP)

Signaturefd LLC lifted its stake in Targa Resources Corp. (NYSE:TRGP) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,287 shares of the pipeline company’s stock after buying an additional 152 shares during the period. Signaturefd LLC’s holdings in Targa Resources were worth $1,226,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Targa Resources by 21.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company’s stock worth $679,000 after acquiring an additional 815 shares during the period. Argus Investors Counsel Inc. acquired a new position in shares of Targa Resources during the third quarter worth $799,000. McClarren Financial Advisors Inc. boosted its stake in shares of Targa Resources by 612.5% in the third quarter. McClarren Financial Advisors Inc. now owns 912 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 784 shares during the period. Buckley Wealth Management LLC grew its holdings in Targa Resources by 0.7% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Targa Resources by 4.8% during the 3rd quarter. Raymond James & Associates now owns 239,805 shares of the pipeline company’s stock worth $35,494,000 after buying an additional 10,970 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada raised their price objective on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price on the stock. Scotiabank raised their price target on shares of Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their price target on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $148.36.

Insider Transactions at Targa Resources

In related news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction that occurred 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 owns 29,603 shares of the company’s stock, valued at $4,027,784.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gerald R. Shrader sold 3,000 shares of Targa Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the sale, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 175,534 shares of company stock valued at $26,815,021. Company insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 0.4 %

Targa Resources stock 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 company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.27 and a beta of 2.25. The firm has a 50-day moving average price of $151.99 and a two-hundred day moving average price of $133.31.

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

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.81%. Targa Resources’s dividend payout ratio (DPR) is 61.73%.

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.