Coppell Advisory Solutions LLC Takes $10.21 Million Position in Targa Resources, Inc. $TRGP

Coppell Advisory Solutions LLC purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,059 shares of the pipeline company’s stock, valued at approximately $10,205,000. Targa Resources comprises about 1.9% of Coppell Advisory Solutions LLC’s portfolio, making the stock its 9th largest position.

Other large investors have also modified their holdings of the company. Hardy Reed LLC boosted its stake in Targa Resources by 1.0% during the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock valued at $1,083,000 after purchasing an additional 41 shares during the period. Versant Capital Management Inc raised its holdings in shares of Targa Resources by 4.1% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock valued at $307,000 after buying an additional 45 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Targa Resources by 10.5% during the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after buying an additional 50 shares during the last quarter. River Wealth Advisors LLC boosted its position in shares of Targa Resources by 0.3% during the second quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock worth $5,217,000 after buying an additional 50 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Targa Resources by 0.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock worth $1,376,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of several analyst reports. Barclays raised their target price on Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Raymond James Financial set a $335.00 price target on Targa Resources in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price target on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group raised their price target on Targa Resources from $324.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, TD Cowen lifted their price objective on shares of Targa Resources from $270.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Targa Resources has a consensus rating of “Buy” and a consensus target price of $301.18.

Insider Buying and Selling

In related news, Director Waters S. Iv Davis sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the sale, the director directly owned 1,529 shares in the company, valued at approximately $458,195.43. This trade represents a 61.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the transaction, the director directly owned 62,292 shares in the company, valued at $18,079,007.16. The trade was a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.37% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $293.44 on Thursday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $307.94. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. The company has a market capitalization of $62.92 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.41 and a beta of 0.72. The firm has a 50-day moving average of $276.76 and a two-hundred day moving average of $258.98.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. As a group, analysts expect that Targa Resources, Inc. will post 11.23 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is currently 47.80%.

About Targa Resources

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.