Farther Finance Advisors LLC Sells 1,134 Shares of Targa Resources Corp. (NYSE:TRGP)

Farther Finance Advisors LLC cut its holdings in Targa Resources Corp. (NYSE:TRGP) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,136 shares of the pipeline company’s stock after selling 1,134 shares during the period. Farther Finance Advisors LLC’s holdings in Targa Resources were worth $560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MML Investors Services LLC boosted its holdings in Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after buying an additional 10,100 shares during the period. Nordea Investment Management AB boosted its holdings in Targa Resources by 85.7% in the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock worth $5,070,000 after buying an additional 13,167 shares during the period. Cerity Partners LLC boosted its holdings in Targa Resources by 47.5% in the 3rd quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company’s stock worth $4,277,000 after buying an additional 9,307 shares during the period. Capital Investment Advisors LLC boosted its holdings in Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in Targa Resources in the 4th quarter worth approximately $271,000. 92.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 over the last three months. Insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRGP. The Goldman Sachs Group raised their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays boosted their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Scotiabank reduced their price target on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Mizuho boosted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $206.43.

Targa Resources Stock Performance

NYSE TRGP opened at $190.13 on Monday. Targa Resources Corp. has a 52-week low of $106.04 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $41.47 billion, a P/E ratio of 33.12, a P/E/G ratio of 0.61 and a beta of 2.32. The company has a fifty day moving average of $199.06 and a 200-day moving average of $181.60.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities research analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

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.