SYM FINANCIAL Corp Grows Position in Targa Resources Corp. (NYSE:TRGP)

SYM FINANCIAL Corp grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,204 shares of the pipeline company’s stock after purchasing an additional 156 shares during the quarter. SYM FINANCIAL Corp’s holdings in Targa Resources were worth $918,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Caxton Associates LP bought a new position in shares of Targa Resources during the 2nd quarter valued at about $2,323,000. Cetera Investment Advisers grew its position in Targa Resources by 215.2% during 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 during the last quarter. Braun Stacey Associates Inc. bought a new position in Targa Resources during the 3rd quarter worth approximately $11,042,000. Metis Global Partners LLC grew its position in Targa Resources by 12.7% during the 3rd quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company’s stock worth $3,784,000 after acquiring an additional 2,890 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in Targa Resources by 73.3% during the 3rd quarter. Prospera Financial Services Inc now owns 11,984 shares of the pipeline company’s stock worth $1,774,000 after acquiring an additional 5,067 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Targa Resources

In other news, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now directly owns 110,470 shares in the company, valued at $17,181,399.10. The trade was a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 35,143 shares in the company, valued at $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. Over the last quarter, insiders sold 183,260 shares of company stock valued at $29,661,212. Company insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays raised their price target on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Bank of America initiated coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, UBS Group lifted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $176.50.

Targa Resources Stock Down 0.9 %

Targa Resources stock opened at $195.45 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The firm has a market cap of $42.62 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 0.78 and a beta of 2.28. The stock has a fifty day simple moving average of $176.79 and a two-hundred day simple moving average of $148.92.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data 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 return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts predict that Targa Resources Corp. will post 6.28 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources’s dividend payout ratio is presently 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.