Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 36.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 532 shares of the pipeline company’s stock after purchasing an additional 141 shares during the period. Venturi Wealth Management LLC’s holdings in Targa Resources were worth $79,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Buckley Wealth Management LLC raised its holdings in Targa Resources by 0.7% in the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after acquiring an additional 65 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Targa Resources by 9.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock valued at $138,000 after purchasing an additional 83 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Targa Resources by 1.0% during the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after purchasing an additional 89 shares during the last quarter. Catalina Capital Group LLC grew its stake in Targa Resources by 3.4% in the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock worth $392,000 after purchasing an additional 99 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in Targa Resources by 4.5% in the third quarter. Valley Brook Capital Group Inc. now owns 2,300 shares of the pipeline company’s stock valued at $340,000 after buying an additional 100 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Trading Down 0.8 %

Shares of TRGP stock opened at $191.55 on Friday. The firm has a market capitalization of $41.77 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 0.78 and a beta of 2.24. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $197.14. The stock has a fifty day moving average of $161.69 and a two-hundred day moving average of $139.86.

Targa Resources (NYSE:TRGP) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the company earned $0.97 EPS. As a group, research analysts expect that Targa Resources Corp. will post 6.19 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday. Barclays increased their target price on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group lifted 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. Finally, Truist Financial increased their price objective on shares of Targa Resources from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $159.14.

Insider Transactions at Targa Resources

In related news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares of the company’s stock, valued at $17,181,399.10. The trade was a 57.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,760 shares of company stock valued at $30,026,712. 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.