Benjamin F. Edwards & Company Inc. Has $300,000 Stake in Targa Resources Corp. (NYSE:TRGP)

Benjamin F. Edwards & Company Inc. reduced its position in Targa Resources Corp. (NYSE:TRGP) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,454 shares of the pipeline company’s stock after selling 986 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Targa Resources were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC acquired a new stake in shares of Targa Resources in the 4th quarter valued at approximately $27,000. VisionPoint Advisory Group LLC grew its stake in shares of Targa Resources by 111.2% during the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after buying an additional 209 shares during the last quarter. Rational Advisors LLC acquired a new position in shares of Targa Resources during the third quarter worth $43,000. Huntington National Bank lifted its stake in shares of Targa Resources by 124.4% in the 3rd quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 296 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Targa Resources by 36.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the completion of the sale, the insider now directly owns 219,451 shares of the company’s stock, valued at $21,354,776.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the completion of the sale, the insider now owns 219,451 shares of the company’s stock, valued at approximately $21,354,776.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,657 shares of company stock worth $9,079,078. Insiders own 1.39% of the company’s stock.

Targa Resources Stock Up 1.0 %

Targa Resources stock opened at $113.59 on Friday. The company has a market capitalization of $25.18 billion, a PE ratio of 23.37 and a beta of 2.19. Targa Resources Corp. has a 12-month low of $67.36 and a 12-month high of $117.87. The firm’s fifty day moving average is $111.25 and its 200 day moving average is $95.59. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.50 billion. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.72 EPS for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 2.64%. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio (DPR) is presently 61.73%.

Analysts Set New Price Targets

TRGP has been the subject of several research reports. Truist Financial increased their target price on Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Mizuho raised their price target on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus boosted their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company raised their target price on Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.92.

About Targa Resources

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.