Venturi Wealth Management LLC Increases Stake in Targa Resources Corp. (NYSE:TRGP)

Venturi Wealth Management LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 84.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 981 shares of the pipeline company’s stock after buying an additional 449 shares during the period. Venturi Wealth Management LLC’s holdings in Targa Resources were worth $175,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in Targa Resources by 21.6% during the third quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company’s stock valued at $679,000 after purchasing an additional 815 shares in the last quarter. International Assets Investment Management LLC boosted its position in Targa Resources by 14,163.5% during the third quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock valued at $30,232,000 after purchasing an additional 202,822 shares in the last quarter. Great Lakes Retirement Inc. bought a new stake in Targa Resources during the third quarter valued at about $547,000. Hennion & Walsh Asset Management Inc. boosted its position in Targa Resources by 59.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,840 shares of the pipeline company’s stock valued at $2,048,000 after purchasing an additional 5,143 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Targa Resources by 36.2% during the third quarter. Assenagon Asset Management S.A. now owns 74,841 shares of the pipeline company’s stock valued at $11,077,000 after purchasing an additional 19,902 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.9 %

Targa Resources stock opened at $200.89 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52 week low of $95.88 and a 52 week high of $218.51. The company has a market capitalization of $43.81 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 0.62 and a beta of 2.29. The stock has a 50-day moving average price of $195.58 and a 200 day moving average price of $175.41.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Sell-side analysts anticipate that Targa Resources Corp. will post 6.36 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Mizuho raised their price objective on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank initiated coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective on the stock. Royal Bank of Canada raised their price target on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $203.77.

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.