Captrust Financial Advisors Decreases Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Captrust Financial Advisors reduced its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,953 shares of the pipeline company's stock after selling 9,680 shares during the period. Captrust Financial Advisors owned about 0.05% of Targa Resources worth $16,866,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRGP. Caxton Associates LP purchased a new stake in Targa Resources during the 2nd quarter valued at about $2,323,000. Cetera Investment Advisers boosted its stake in shares of Targa Resources by 215.2% during the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company's stock valued at $3,478,000 after purchasing an additional 21,200 shares during the period. Braun Stacey Associates Inc. bought a new position in shares of Targa Resources in the third quarter worth approximately $11,042,000. Metis Global Partners LLC increased its stake in shares of Targa Resources by 12.7% in the third quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company's stock worth $3,784,000 after buying an additional 2,890 shares during the period. Finally, Prospera Financial Services Inc raised its holdings in Targa Resources by 73.3% during the 3rd quarter. Prospera Financial Services Inc now owns 11,984 shares of the pipeline company's stock valued at $1,774,000 after buying an additional 5,067 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRGP shares. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price target on Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Barclays increased their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. US Capital Advisors downgraded Targa Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus raised their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources presently has an average rating of "Buy" and a consensus target price of $176.50.

Insiders Place Their Bets

In related news, insider Robert Muraro sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company's stock, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,760 shares of company stock valued at $30,026,712. 1.39% of the stock is currently owned by corporate insiders.

Targa Resources Stock Up 1.4 %

Shares of Targa Resources stock traded up $2.91 during trading on Friday, hitting $204.30. The company's stock had a trading volume of 826,795 shares, compared to its average volume of 1,682,676. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87. The company has a market capitalization of $44.55 billion, a PE ratio of 36.94, a P/E/G ratio of 0.80 and a beta of 2.24. The company has a fifty day simple moving average of $174.40 and a two-hundred day simple moving average of $147.48. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

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 (EPS) 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 firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $0.97 earnings per share. Equities research analysts predict that Targa Resources Corp. will post 6.28 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources's dividend payout ratio (DPR) is 54.25%.

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.