Aaron Wealth Advisors LLC Increases Holdings in Targa Resources Corp. (NYSE:TRGP)

Aaron Wealth Advisors LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,216 shares of the pipeline company’s stock after acquiring an additional 138 shares during the period. Aaron Wealth Advisors LLC’s holdings in Targa Resources were worth $574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC boosted its stake in Targa Resources by 23.8% during the 4th quarter. HB Wealth Management LLC now owns 7,290 shares of the pipeline company’s stock valued at $1,301,000 after purchasing an additional 1,402 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Targa Resources during the fourth quarter valued at $216,000. Wealthcare Advisory Partners LLC bought a new stake in Targa Resources in the 4th quarter worth about $223,000. Hennion & Walsh Asset Management Inc. lifted its stake in Targa Resources by 53.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 21,249 shares of the pipeline company’s stock valued at $3,793,000 after acquiring an additional 7,409 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Targa Resources by 90.4% during the 4th quarter. Park Avenue Securities LLC now owns 3,119 shares of the pipeline company’s stock valued at $557,000 after acquiring an additional 1,481 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Up 1.4 %

Shares of NYSE:TRGP opened at $216.00 on Monday. The company has a market cap of $47.10 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.59 and a beta of 2.30. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $217.02. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a 50-day moving average price of $191.56 and a 200 day moving average price of $163.93.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, equities research analysts predict that Targa Resources Corp. will post 6.4 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRGP. UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank began coverage on Targa Resources in a report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target on the stock. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $189.21.

Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.