Three Seasons Wealth LLC Makes New $2.86 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Three Seasons Wealth LLC purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,004 shares of the pipeline company's stock, valued at approximately $2,857,000. Targa Resources accounts for about 1.4% of Three Seasons Wealth LLC's investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Targa Resources by 19.5% during the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock worth $153,124,000 after buying an additional 168,602 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Targa Resources by 39.4% during the third quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company's stock worth $1,250,000 after buying an additional 2,388 shares in the last quarter. Fulcrum Equity Management grew its holdings in shares of Targa Resources by 7.1% during the third quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company's stock worth $464,000 after buying an additional 208 shares in the last quarter. Sfmg LLC grew its holdings in shares of Targa Resources by 3.3% during the third quarter. Sfmg LLC now owns 3,131 shares of the pipeline company's stock worth $463,000 after buying an additional 100 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Targa Resources during the third quarter worth about $145,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Stock Performance

Shares of TRGP traded up $1.76 during mid-day trading on Monday, reaching $179.38. The company's stock had a trading volume of 1,363,174 shares, compared to its average volume of 1,731,384. The stock has a market cap of $39.03 billion, a P/E ratio of 31.25, a PEG ratio of 0.61 and a beta of 1.75. The business has a 50-day simple moving average of $185.59 and a two-hundred day simple moving average of $188.24. 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 Corp. has a 1-year low of $110.09 and a 1-year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid 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 presently 69.69%.

Insider Activity at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Corporate insiders own 1.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRGP shares. Citigroup increased their price objective on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Barclays decreased their price target on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley raised their price target on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada raised their price target on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $210.07.

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.