EverSource Wealth Advisors LLC Buys 128 Shares of Targa Resources Corp. (NYSE:TRGP)

EverSource Wealth Advisors LLC grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 977 shares of the pipeline company’s stock after buying an additional 128 shares during the period. EverSource Wealth Advisors LLC’s holdings in Targa Resources were worth $111,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Spire Wealth Management increased its position in shares of Targa Resources by 2,400.0% during the 1st quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 264 shares during the last quarter. Addison Advisors LLC bought a new position in Targa Resources in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC bought a new position in Targa Resources in the 1st quarter worth approximately $45,000. EdgeRock Capital LLC bought a new position in Targa Resources in the 4th quarter worth approximately $42,000. Finally, Delos Wealth Advisors LLC bought a new position in Targa Resources in the 4th quarter worth approximately $43,000. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert Muraro sold 9,900 shares of Targa Resources stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $130.31, for a total transaction of $1,290,069.00. Following the completion of the sale, the insider now owns 186,951 shares in the company, valued at approximately $24,361,584.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $113.13, for a total value of $2,262,600.00. Following the completion of the transaction, the insider now owns 136,098 shares in the company, valued at approximately $15,396,766.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Muraro sold 9,900 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.31, for a total value of $1,290,069.00. Following the transaction, the insider now owns 186,951 shares in the company, valued at $24,361,584.81. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $5,893,549 over the last quarter. Company insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 3.9 %

NYSE:TRGP traded up $4.97 during midday trading on Tuesday, hitting $132.83. 1,270,147 shares of the company traded hands, compared to its average volume of 1,600,286. The firm’s fifty day moving average is $127.75 and its 200-day moving average is $112.92. Targa Resources Corp. has a 12-month low of $77.97 and a 12-month high of $139.35. The firm has a market capitalization of $29.45 billion, a P/E ratio of 27.30, a P/E/G ratio of 0.70 and a beta of 2.27. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. Targa Resources had a return on equity of 23.75% and a net margin of 6.60%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Targa Resources Corp. will post 5.4 EPS for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 2.26%. Targa Resources’s payout ratio is presently 61.73%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRGP. Wells Fargo & Company upped their price target on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday. Argus began coverage on Targa Resources in a research note on Wednesday, June 26th. They issued a “buy” rating and a $140.00 price target for the company. The Goldman Sachs Group upped their price target on Targa Resources from $132.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group increased their target price on Targa Resources from $116.00 to $147.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada increased 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. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and a consensus price target of $138.62.

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.