Oak Thistle LLC Sells 10,806 Shares of Targa Resources Corp. (NYSE:TRGP)

Oak Thistle LLC decreased its holdings in Targa Resources Corp. (NYSE:TRGP) by 68.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,898 shares of the pipeline company’s stock after selling 10,806 shares during the period. Oak Thistle LLC’s holdings in Targa Resources were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Addison Advisors LLC acquired a new stake in shares of Targa Resources in the 4th quarter worth $27,000. VisionPoint Advisory Group LLC boosted its holdings in Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 209 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Targa Resources during the first quarter worth about $45,000. EdgeRock Capital LLC acquired a new position in shares of Targa Resources during the fourth quarter valued at about $42,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of Targa Resources in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the sale, the insider now owns 136,098 shares of the company’s stock, valued at $15,396,766.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction on Monday, June 10th. The shares were sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the sale, the insider now owns 196,951 shares of the company’s stock, valued at approximately $23,649,876.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the sale, the insider now owns 136,098 shares of the company’s stock, valued at $15,396,766.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,791 shares of company stock worth $4,907,563. Company insiders own 1.44% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada upped their target price on Targa Resources from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Scotiabank raised their target price on Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 15th. UBS Group boosted their price target on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Barclays raised their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and a consensus price target of $129.46.

Targa Resources Price Performance

Shares of Targa Resources stock traded up $2.49 during trading hours on Monday, reaching $131.27. The stock had a trading volume of 1,738,554 shares, compared to its average volume of 1,657,380. Targa Resources Corp. has a twelve month low of $74.95 and a twelve month high of $131.32. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $29.11 billion, a PE ratio of 27.01, a PEG ratio of 0.76 and a beta of 2.27. The stock’s 50 day moving average is $118.39 and its 200 day moving average is $104.44.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. Equities analysts expect that Targa Resources Corp. will post 5.27 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, April 29th. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s payout ratio is presently 61.73%.

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.