Sheaff Brock Investment Advisors LLC Makes New $208,000 Investment in Targa Resources Corp. (NYSE:TRGP)

Sheaff Brock Investment Advisors LLC bought a new position in Targa Resources Corp. (NYSE:TRGP) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,855 shares of the pipeline company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management increased its stake in shares of Targa Resources by 2,400.0% in the first quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock valued at $31,000 after buying an additional 264 shares during the period. Addison Advisors LLC acquired a new stake in Targa Resources during the fourth quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in Targa Resources during the first quarter worth approximately $45,000. EdgeRock Capital LLC acquired a new stake in Targa Resources during the fourth quarter worth approximately $42,000. Finally, Delos Wealth Advisors LLC acquired a new stake in Targa Resources during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TRGP shares. Argus started coverage on Targa Resources in a research note on Wednesday, June 26th. They set a “buy” rating and a $140.00 target price for the company. Stifel Nicolaus raised their price objective on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada raised their price objective on Targa Resources from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Mizuho raised their price objective on Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company raised their price objective on Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.15.

Targa Resources Stock Down 0.3 %

Shares of NYSE:TRGP traded down $0.41 during mid-day trading on Friday, hitting $131.57. 1,364,845 shares of the company traded hands, compared to its average volume of 1,229,071. The stock has a market cap of $29.17 billion, a P/E ratio of 27.07, a P/E/G ratio of 0.76 and a beta of 2.27. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 12-month low of $77.97 and a 12-month high of $138.28. The stock has a 50-day moving average price of $125.67 and a two-hundred day moving average price of $110.44.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.28 billion. On average, equities research analysts forecast that Targa Resources Corp. will post 5.38 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.75 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.28%. Targa Resources’s payout ratio is presently 61.73%.

Insider Buying and Selling at Targa Resources

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 transaction of $304,083.00. Following 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 SEC, which is accessible 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 transaction of $304,083.00. Following 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 SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total value of $787,780.00. Following the sale, the director now owns 95,471 shares in the company, valued at $10,744,306.34. The disclosure for this sale can be found here. Insiders have sold a total of 52,691 shares of company stock worth $6,197,632 over the last ninety days. 1.39% of the stock is currently owned by company insiders.

Targa Resources Company 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.