OneAscent Wealth Management LLC Sells 182 Shares of Targa Resources Corp. (NYSE:TRGP)

OneAscent Wealth Management LLC trimmed its position in shares of Targa Resources Corp. (NYSE:TRGP) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,326 shares of the pipeline company’s stock after selling 182 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Targa Resources were worth $492,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TRGP. Vanguard Group Inc. grew its stake in Targa Resources by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock worth $3,025,521,000 after acquiring an additional 201,817 shares in the last quarter. Caxton Associates LP bought a new position in Targa Resources in the 2nd quarter worth about $2,323,000. Cetera Investment Advisers grew its stake in Targa Resources by 215.2% in the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock worth $3,478,000 after acquiring an additional 21,200 shares in the last quarter. California State Teachers Retirement System grew its stake in Targa Resources by 6.5% in the 1st quarter. California State Teachers Retirement System now owns 444,530 shares of the pipeline company’s stock worth $49,783,000 after acquiring an additional 27,164 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Targa Resources in the 1st quarter worth about $1,151,000. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRGP has been the subject of several research reports. Morgan Stanley upped their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price target on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upped their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $169.79.

Insider Activity

In related news, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares in the company, valued at $25,504,736.20. This represents a 1.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,760 shares of company stock worth $30,026,712. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Stock Up 0.6 %

Shares of TRGP stock traded up $1.08 during trading on Monday, reaching $197.12. The company’s stock had a trading volume of 76,724 shares, compared to its average volume of 1,641,787. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market capitalization of $42.98 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 0.78 and a beta of 2.24. The stock’s 50-day moving average price is $163.51 and its 200 day moving average price is $141.15. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $198.45.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $0.97 EPS. On average, research analysts anticipate that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Thursday, October 31st. Targa Resources’s payout ratio is 54.25%.

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.