Secure Asset Management LLC Has $1.65 Million Stake in Targa Resources Corp. (NYSE:TRGP)

Secure Asset Management LLC lessened its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,259 shares of the pipeline company’s stock after selling 475 shares during the period. Secure Asset Management LLC’s holdings in Targa Resources were worth $1,653,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after buying an additional 633,589 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Targa Resources by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after buying an additional 97,583 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Targa Resources by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock worth $197,076,000 after purchasing an additional 14,287 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Targa Resources by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after buying an additional 96,268 shares during the period. Finally, Barclays PLC boosted its position in shares of Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock valued at $153,124,000 after purchasing an additional 168,602 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling

In other news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRGP. Wells Fargo & Company raised their price target on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective on the stock. Finally, 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. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Up 0.1 %

Targa Resources stock opened at $211.58 on Friday. 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 business has a 50 day simple moving average of $192.80 and a 200-day simple moving average of $165.43. The stock has a market capitalization of $46.14 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 0.63 and a beta of 2.30. Targa Resources Corp. has a 12 month low of $83.35 and a 12 month high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, analysts anticipate that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.42%. Targa Resources’s payout ratio is 54.25%.

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.