Americana Partners LLC Grows Holdings in Targa Resources Corp. (NYSE:TRGP)

Americana Partners LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,172 shares of the pipeline company’s stock after buying an additional 490 shares during the period. Americana Partners LLC’s holdings in Targa Resources were worth $1,654,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRGP. Sequoia Financial Advisors LLC increased its stake in shares of Targa Resources by 59.1% during the first quarter. Sequoia Financial Advisors LLC now owns 6,410 shares of the pipeline company’s stock valued at $718,000 after buying an additional 2,380 shares during the period. BNP Paribas Financial Markets boosted its position in Targa Resources by 160.3% during the first quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock valued at $32,486,000 after purchasing an additional 178,655 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Targa Resources during the first quarter valued at about $139,000. Daiwa Securities Group Inc. boosted its position in Targa Resources by 19.4% during the first quarter. Daiwa Securities Group Inc. now owns 34,128 shares of the pipeline company’s stock valued at $3,822,000 after purchasing an additional 5,555 shares in the last quarter. Finally, FORA Capital LLC boosted its position in Targa Resources by 49.1% during the first quarter. FORA Capital LLC now owns 58,427 shares of the pipeline company’s stock valued at $6,543,000 after purchasing an additional 19,233 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRGP. Argus raised Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised their price objective on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. Scotiabank raised their price target on Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company raised their price target on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $152.79.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 1,213 shares of Targa Resources stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 52,257 shares in the company, valued at approximately $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Julie H. Boushka sold 1,213 shares of Targa Resources stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 52,257 shares in the company, valued at approximately $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 12,641 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $134.50, for a total value of $1,700,214.50. Following the completion of the sale, the chief accounting officer now owns 38,403 shares of the company’s stock, valued at $5,165,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,534 shares of company stock worth $26,815,021. 1.39% of the stock is owned by corporate insiders.

Targa Resources Trading Down 1.0 %

Targa Resources stock opened at $165.27 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $169.92. The company has a market capitalization of $36.21 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 1.29 and a beta of 2.24. The stock has a 50-day moving average price of $155.23 and a 200 day moving average price of $135.67.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same period last year, the business earned $1.44 earnings per share. Sell-side analysts anticipate that Targa Resources Corp. will post 5.96 EPS for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources’s dividend payout ratio is currently 63.16%.

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.