Avidian Wealth Enterprises LLC Sells 166 Shares of Targa Resources, Inc. $TRGP

Avidian Wealth Enterprises LLC trimmed its position in Targa Resources, Inc. (NYSE:TRGP) by 10.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,472 shares of the pipeline company’s stock after selling 166 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Targa Resources were worth $256,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in Targa Resources by 13.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 71,038 shares of the pipeline company’s stock worth $12,434,000 after purchasing an additional 8,294 shares during the period. Mezzasalma Advisors LLC increased its position in shares of Targa Resources by 1.7% in the 2nd quarter. Mezzasalma Advisors LLC now owns 20,144 shares of the pipeline company’s stock valued at $3,507,000 after buying an additional 343 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Targa Resources by 0.7% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 45,592 shares of the pipeline company’s stock valued at $7,519,000 after buying an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Targa Resources by 39.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,982 shares of the pipeline company’s stock worth $867,000 after buying an additional 1,404 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its holdings in Targa Resources by 28.4% during the second quarter. Stratos Wealth Advisors LLC now owns 2,280 shares of the pipeline company’s stock worth $397,000 after acquiring an additional 504 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

TRGP has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Wells Fargo & Company reissued an “overweight” rating and set a $205.00 target price (up from $198.00) on shares of Targa Resources in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Royal Bank Of Canada lifted their price target on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Finally, TD Cowen initiated coverage on shares of Targa Resources in a research report on Monday, July 7th. They set a “hold” rating and a $192.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Targa Resources has an average rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Trading Up 1.5%

NYSE TRGP opened at $156.82 on Friday. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The stock’s 50 day moving average price is $162.49 and its two-hundred day moving average price is $165.56. The stock has a market capitalization of $33.75 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.99 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $4.00 annualized dividend and a yield of 2.6%. Targa Resources’s payout ratio is 56.58%.

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.