Exencial Wealth Advisors LLC Acquires 119 Shares of Targa Resources Corp. (NYSE:TRGP)

Exencial Wealth Advisors LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,509 shares of the pipeline company’s stock after acquiring an additional 119 shares during the period. Exencial Wealth Advisors LLC’s holdings in Targa Resources were worth $6,160,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. US Bancorp DE raised its stake in Targa Resources by 7.3% in the third quarter. US Bancorp DE now owns 24,037 shares of the pipeline company’s stock valued at $3,558,000 after purchasing an additional 1,628 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in shares of Targa Resources during the 3rd quarter valued at $382,000. Farther Finance Advisors LLC lifted its holdings in shares of Targa Resources by 1,217.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,270 shares of the pipeline company’s stock worth $632,000 after acquiring an additional 3,946 shares during the last quarter. Van ECK Associates Corp grew its position in Targa Resources by 8.0% in the third quarter. Van ECK Associates Corp now owns 71,523 shares of the pipeline company’s stock worth $10,586,000 after acquiring an additional 5,288 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Targa Resources by 599.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock valued at $42,619,000 after acquiring an additional 246,762 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $195.49 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market cap of $42.64 billion, a P/E ratio of 34.06, a P/E/G ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 1-year low of $99.04 and a 1-year high of $218.51. The firm has a 50-day moving average of $198.29 and a 200-day moving average of $179.02.

Targa Resources (NYSE:TRGP) last released 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Sell-side analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.53%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Analyst Ratings Changes

Several brokerages have issued reports on TRGP. Barclays lifted their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus boosted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Mizuho lifted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Scotiabank began coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $207.00.

Insider Transactions at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares of the company’s stock, valued at approximately $568,957.74. This represents a 43.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the transaction, the chief executive officer now owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company’s stock.

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.