Prospera Financial Services Inc Acquires 5,067 Shares of Targa Resources Corp. (NYSE:TRGP)

Prospera Financial Services Inc boosted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 73.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,984 shares of the pipeline company's stock after buying an additional 5,067 shares during the period. Prospera Financial Services Inc's holdings in Targa Resources were worth $1,774,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the second quarter valued at approximately $29,000. DT Investment Partners LLC acquired a new position in Targa Resources in the 3rd quarter worth $29,000. UMB Bank n.a. boosted its position in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after buying an additional 222 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Targa Resources during the second quarter valued at about $44,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Targa Resources during the second quarter worth about $69,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

NYSE TRGP traded down $0.35 during trading on Friday, hitting $207.34. The company's stock had a trading volume of 1,267,074 shares, compared to its average volume of 1,647,647. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87. The firm has a market cap of $45.21 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 0.81 and a beta of 2.24. The firm has a 50 day moving average price of $168.18 and a 200 day moving average price of $143.27. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $4.24 billion. During the same quarter last year, the company earned $0.97 earnings per share. Equities research analysts forecast that Targa Resources Corp. will post 6.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, October 31st. Targa Resources's dividend payout ratio is 54.25%.

Analyst Ratings Changes

Several analysts recently weighed in on TRGP shares. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a report on Friday, November 15th. Argus raised Targa Resources to a "strong-buy" rating in a research report on Tuesday, September 3rd. Barclays raised their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. The Goldman Sachs Group increased their target price on shares of Targa Resources from $147.00 to $163.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company increased their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $176.50.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Muraro sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock worth $30,026,712 over the last three months. 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.