Targa Resources Corp. (NYSE:TRGP) Shares Sold by Childress Capital Advisors LLC

Childress Capital Advisors LLC lowered its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,430 shares of the pipeline company’s stock after selling 264 shares during the quarter. Targa Resources makes up approximately 0.9% of Childress Capital Advisors LLC’s holdings, making the stock its 28th largest position. Childress Capital Advisors LLC’s holdings in Targa Resources were worth $3,111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC grew its position in Targa Resources by 123.0% in the 2nd quarter. Algert Global LLC now owns 4,147 shares of the pipeline company’s stock worth $534,000 after purchasing an additional 2,287 shares during the last quarter. Cetera Investment Advisers grew its holdings in Targa Resources by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock worth $4,188,000 after buying an additional 1,467 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Targa Resources in the 2nd quarter valued at approximately $1,992,000. Park Avenue Securities LLC acquired a new stake in Targa Resources in the 3rd quarter valued at approximately $242,000. Finally, Czech National Bank raised its stake in Targa Resources by 5.6% during the 3rd quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock valued at $6,605,000 after acquiring an additional 2,377 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insider Activity at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is owned by insiders.

Targa Resources Stock Up 2.5 %

Shares of Targa Resources stock opened at $201.78 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $84.43 and a 12-month high of $218.51. The firm has a market capitalization of $44.00 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The stock’s fifty day moving average is $193.19 and its 200-day moving average is $169.12.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (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 firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company earned $0.97 EPS. Equities analysts anticipate that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TRGP. Barclays increased their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group raised their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank started coverage on shares of Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $189.21.

Targa Resources 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.