Sanctuary Advisors LLC Increases Position in Targa Resources Corp. (NYSE:TRGP)

Sanctuary Advisors LLC increased its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,065 shares of the pipeline company’s stock after buying an additional 1,132 shares during the period. Sanctuary Advisors LLC’s holdings in Targa Resources were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. MML Investors Services LLC boosted its stake in shares of Targa Resources by 65.1% during the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after acquiring an additional 10,100 shares in the last quarter. Nordea Investment Management AB boosted its position in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock worth $5,070,000 after purchasing an additional 13,167 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Targa Resources in the fourth quarter valued at $271,000. Finally, Braun Stacey Associates Inc. purchased a new stake in shares of Targa Resources in the 3rd quarter worth about $11,042,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRGP. Wells Fargo & Company raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays raised their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Morgan Stanley upped their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Targa Resources presently has a consensus rating of “Buy” and a consensus target price of $203.77.

Targa Resources Stock Down 1.9 %

Shares of NYSE:TRGP opened at $200.89 on Friday. Targa Resources Corp. has a 12-month low of $95.88 and a 12-month high of $218.51. The stock’s 50-day moving average price is $195.58 and its two-hundred day moving average price is $175.41. 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 $43.81 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 0.62 and a beta of 2.29.

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

Targa Resources Announces Dividend

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

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.