OneAscent Financial Services LLC Has $434,000 Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

OneAscent Financial Services LLC lowered its position in shares of Targa Resources Corp. (NYSE:TRGP) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,874 shares of the pipeline company’s stock after selling 581 shares during the quarter. OneAscent Financial Services LLC’s holdings in Targa Resources were worth $434,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new position in Targa Resources during the 4th quarter worth $27,000. VisionPoint Advisory Group LLC boosted its holdings in Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 209 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in Targa Resources in the fourth quarter worth about $42,000. Delos Wealth Advisors LLC bought a new stake in Targa Resources during the 4th quarter worth about $43,000. Finally, Register Financial Advisors LLC acquired a new position in Targa Resources during the 1st quarter valued at about $45,000. 92.13% of the stock is owned by institutional investors.

Targa Resources Stock Up 0.2 %

Targa Resources stock traded up $0.20 during mid-day trading on Friday, reaching $128.78. The company’s stock had a trading volume of 3,430,547 shares, compared to its average volume of 1,523,420. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.62 and a current ratio of 0.70. The business’s 50 day simple moving average is $118.04 and its 200 day simple moving average is $103.85. The company has a market capitalization of $28.55 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 0.76 and a beta of 2.21. Targa Resources Corp. has a 12 month low of $74.20 and a 12 month high of $130.53.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.28 billion. As a group, research analysts anticipate that Targa Resources Corp. will post 5.27 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, April 29th. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. Targa Resources’s payout ratio is currently 61.73%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRGP shares. Scotiabank increased their price objective on shares of Targa Resources from $112.00 to $128.00 and gave the company a “sector outperform” rating in a report on Monday, April 15th. Morgan Stanley raised their target price on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Royal Bank of Canada increased their price target on shares of Targa Resources from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Truist Financial increased their target price on shares of Targa Resources from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.46.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $113.13, for a total value of $2,262,600.00. Following the transaction, the insider now directly owns 136,098 shares in the company, valued at $15,396,766.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares in the company, valued at approximately $6,466,764. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $113.13, for a total value of $2,262,600.00. Following the transaction, the insider now owns 136,098 shares in the company, valued at approximately $15,396,766.74. The disclosure for this sale can be found here. Insiders have sold 42,791 shares of company stock worth $4,907,563 over the last 90 days. Company insiders own 1.39% of the company’s stock.

About Targa Resources

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.