Lido Advisors LLC Grows Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Lido Advisors LLC increased its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 1,983.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,639 shares of the pipeline company’s stock after buying an additional 43,448 shares during the quarter. Lido Advisors LLC’s holdings in Targa Resources were worth $8,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atala Financial Inc acquired a new stake in Targa Resources in the fourth quarter valued at about $31,000. Rakuten Securities Inc. lifted its position in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares during the period. Mizuho Bank Ltd. acquired a new stake in Targa Resources in the fourth quarter valued at about $36,000. Aspect Partners LLC lifted its position in shares of Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

NYSE TRGP opened at $178.08 on Wednesday. The business’s 50-day moving average price is $184.43 and its 200 day moving average price is $188.27. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51. The company has a market capitalization of $38.75 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last released its 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. On average, research analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources’s dividend payout ratio (DPR) is 69.69%.

Insider Transactions at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock worth $22,613,288 in the last three months. 1.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TRGP has been the topic of several research reports. Wells Fargo & Company upped their target price on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Morgan Stanley upped their target price on Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, March 17th. US Capital Advisors raised Targa Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Citigroup upped their target price on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Barclays decreased their price objective on Targa Resources from $211.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $209.29.

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.