Checchi Capital Advisers LLC Purchases 200 Shares of Targa Resources Corp. (NYSE:TRGP)

Checchi Capital Advisers LLC increased its position in Targa Resources Corp. (NYSE:TRGP) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,585 shares of the pipeline company’s stock after purchasing an additional 200 shares during the period. Checchi Capital Advisers LLC’s holdings in Targa Resources were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRGP. MML Investors Services LLC lifted its stake in Targa Resources by 65.1% during the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after acquiring an additional 10,100 shares during the period. Nordea Investment Management AB lifted its stake in Targa Resources by 85.7% during the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after acquiring an additional 13,167 shares during the period. Capital Investment Advisors LLC lifted its stake in Targa Resources by 191.4% during the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after acquiring an additional 5,431 shares during the period. Atomi Financial Group Inc. bought a new position in Targa Resources during the 4th quarter valued at about $271,000. Finally, Braun Stacey Associates Inc. bought a new position in Targa Resources during the 3rd quarter valued at about $11,042,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 1.7 %

NYSE TRGP opened at $198.20 on Thursday. 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 $43.23 billion, a P/E ratio of 34.53, a P/E/G ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a one year low of $96.64 and a one year high of $218.51. The stock has a 50 day moving average price of $197.00 and a 200-day moving average price of $177.53.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The company 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 analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. Targa Resources’s dividend payout ratio is presently 52.26%.

Analysts Set New Price Targets

Several research firms have issued reports on TRGP. Citigroup upped their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Truist Financial reduced their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Scotiabank initiated 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 for the company. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $205.43.

Insider Transactions at Targa Resources

In other news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares in the company, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

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.