Targa Resources, Inc. $TRGP Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,864 shares of the pipeline company’s stock after acquiring an additional 3,721 shares during the period. Cetera Investment Advisers’ holdings in Targa Resources were worth $11,499,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $27,000. Miller Capital Partners Inc. acquired a new stake in shares of Targa Resources during the fourth quarter worth $30,000. Leonteq Securities AG purchased a new position in Targa Resources in the 4th quarter valued at $31,000. Godfrey Financial Associates Inc. acquired a new position in Targa Resources in the 4th quarter valued at $37,000. Finally, Global Assets Advisory LLC purchased a new position in Targa Resources during the 1st quarter worth $41,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other news, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. This trade represents a 13.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. US Capital Advisors downgraded shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Erste Group Bank assumed coverage on Targa Resources in a report on Thursday, June 25th. They issued a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $333.00 target price on shares of Targa Resources in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and a consensus target price of $288.00.

Targa Resources Stock Performance

NYSE:TRGP opened at $264.71 on Thursday. The firm’s fifty day simple moving average is $269.31 and its 200-day simple moving average is $244.26. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The stock has a market cap of $56.82 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $291.04.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.68 billion. Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. Analysts expect that Targa Resources, Inc. will post 10.79 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. Targa Resources’s dividend payout ratio (DPR) is 50.56%.

Targa Resources Company 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.