Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Williams & Novak LLC

Williams & Novak LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,650 shares of the pipeline company’s stock after acquiring an additional 150 shares during the period. Williams & Novak LLC’s holdings in Targa Resources were worth $295,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TRGP. DT Investment Partners LLC acquired a new position in Targa Resources during the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources during the second quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new position in Targa Resources in the 3rd quarter worth approximately $35,000. Rosenberg Matthew Hamilton increased its position in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the period. Finally, UMB Bank n.a. raised its stake in Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 106 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Targa Resources Trading Up 1.7 %

Targa Resources stock opened at $202.55 on Wednesday. Targa Resources Corp. has a 52 week low of $84.33 and a 52 week high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market capitalization of $44.17 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 0.63 and a beta of 2.30. The company has a 50 day moving average price of $193.47 and a 200 day moving average price of $167.22.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the business earned $0.97 EPS. Research analysts forecast that Targa Resources Corp. will post 6.42 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. Targa Resources’s dividend payout ratio is 54.25%.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of research analyst reports. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 price target on the stock. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $189.21.

Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the 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 transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

About Targa Resources

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.