Targa Resources Corp. (NYSE:TRGP) Stock Holdings Increased by CFM Wealth Partners LLC

CFM Wealth Partners LLC lifted its stake in Targa Resources Corp. (NYSE:TRGP) by 6.0% in the third quarter, Holdings Channel.com reports. The firm owned 7,329 shares of the pipeline company’s stock after acquiring an additional 416 shares during the quarter. CFM Wealth Partners LLC’s holdings in Targa Resources were worth $1,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRGP. American International Group Inc. raised its position in Targa Resources by 0.4% during the fourth quarter. American International Group Inc. now owns 63,044 shares of the pipeline company’s stock valued at $5,477,000 after acquiring an additional 241 shares in the last quarter. SageView Advisory Group LLC bought a new position in Targa Resources during the fourth quarter valued at approximately $471,000. B. Riley Wealth Advisors Inc. grew its holdings in Targa Resources by 4.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 13,652 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 573 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Targa Resources by 13.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,405 shares of the pipeline company’s stock valued at $1,512,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Targa Resources during the fourth quarter valued at approximately $621,000. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TRGP. Royal Bank of Canada increased their price target on Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. The Goldman Sachs Group increased their price target on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Buy” and a consensus target price of $144.31.

Targa Resources Trading Down 2.9 %

Shares of NYSE TRGP opened at $161.89 on Wednesday. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $167.79. The company has a market cap of $35.89 billion, a PE ratio of 33.31, a P/E/G ratio of 1.28 and a beta of 2.25. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The company has a 50-day moving average of $148.79 and a two-hundred day moving average of $131.38.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. As a group, equities analysts expect that Targa Resources Corp. will post 5.9 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources’s dividend payout ratio is 61.73%.

Insider Transactions at Targa Resources

In other news, insider Gerald R. Shrader sold 3,000 shares of Targa Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the sale, the insider now owns 29,603 shares in the company, valued at $4,027,784.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Gerald R. Shrader sold 3,000 shares of Targa Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the sale, the insider now owns 29,603 shares in the company, valued at $4,027,784.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie H. Boushka sold 1,213 shares of Targa Resources stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the sale, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,534 shares of company stock worth $26,815,021 in the last quarter. 1.39% of the stock is owned by company insiders.

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.