Waldron Private Wealth LLC Raises Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Waldron Private Wealth LLC lifted its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 103.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,484 shares of the pipeline company's stock after purchasing an additional 18,028 shares during the quarter. Waldron Private Wealth LLC's holdings in Targa Resources were worth $5,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRGP. Signaturefd LLC raised its position in shares of Targa Resources by 1.9% in the third quarter. Signaturefd LLC now owns 8,287 shares of the pipeline company's stock valued at $1,226,000 after purchasing an additional 152 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Targa Resources by 21.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company's stock worth $679,000 after buying an additional 815 shares during the period. Argus Investors Counsel Inc. bought a new stake in shares of Targa Resources in the 3rd quarter worth about $799,000. McClarren Financial Advisors Inc. increased its holdings in Targa Resources by 612.5% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 912 shares of the pipeline company's stock valued at $135,000 after purchasing an additional 784 shares in the last quarter. Finally, Buckley Wealth Management LLC grew its holdings in Targa Resources by 0.7% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock worth $1,469,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares of the company's stock, valued at $6,898,969.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joe Bob Perkins sold 150,000 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,534 shares of company stock worth $26,815,021 in the last 90 days. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

TRGP has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Barclays lifted their price target on shares of Targa Resources from $155.00 to $171.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $153.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Argus upgraded Targa Resources to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Targa Resources from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, July 2nd. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Targa Resources currently has an average rating of "Buy" and an average target price of $148.36.

Targa Resources Trading Up 2.1 %

TRGP stock traded up $3.41 during midday trading on Tuesday, hitting $165.12. The stock had a trading volume of 1,009,681 shares, compared to its average volume of 1,641,990. The firm has a market cap of $36.17 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 1.27 and a beta of 2.25. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The business has a fifty day moving average price of $151.48 and a two-hundred day moving average price of $133.08. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $167.79.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter last year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Targa Resources Corp. will post 6 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.82%. Targa Resources's dividend payout ratio is currently 63.16%.

Targa Resources 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.