Axxcess Wealth Management LLC Buys Shares of 1,717 Targa Resources Corp. (NYSE:TRGP)

Axxcess Wealth Management LLC acquired a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,717 shares of the pipeline company's stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atala Financial Inc bought a new stake in shares of Targa Resources in the 4th quarter worth approximately $31,000. Rakuten Securities Inc. boosted its position in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after acquiring an additional 146 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Targa Resources in the third quarter worth about $35,000. Aspect Partners LLC lifted its stake in Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after purchasing an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in Targa Resources by 49.4% during the fourth 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. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. US Capital Advisors lowered Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Mizuho boosted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Barclays lifted their price target on shares of Targa Resources from $204.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, March 21st. One equities research 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. Based on data from MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus target price of $211.00.

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Targa Resources Trading Down 1.8 %

Shares of TRGP stock traded down $3.66 during trading hours on Wednesday, reaching $201.91. The company had a trading volume of 1,281,074 shares, compared to its average volume of 1,568,440. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. 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 firm has a market cap of $44.04 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 0.61 and a beta of 2.32. The company has a 50 day moving average of $200.01 and a 200 day moving average of $184.16.

Targa Resources (NYSE:TRGP - Get Free Report) 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). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, equities research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.49%. Targa Resources's dividend payout ratio is presently 52.26%.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on 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 directly owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company 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.