Slagle Financial LLC Sells 3,222 Shares of Targa Resources Corp. (NYSE:TRGP)

Slagle Financial LLC reduced its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,505 shares of the pipeline company’s stock after selling 3,222 shares during the quarter. Targa Resources accounts for about 1.5% of Slagle Financial LLC’s holdings, making the stock its 23rd biggest position. Slagle Financial LLC’s holdings in Targa Resources were worth $3,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of Targa Resources by 16.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,819 shares of the pipeline company’s stock worth $1,931,000 after acquiring an additional 1,537 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Targa Resources in the 4th quarter worth about $73,000. Norges Bank bought a new position in shares of Targa Resources during the fourth quarter valued at $505,132,000. Blair William & Co. IL raised its stake in Targa Resources by 6.2% during the 4th quarter. Blair William & Co. IL now owns 19,416 shares of the pipeline company’s stock valued at $3,466,000 after buying an additional 1,126 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Targa Resources in the fourth quarter worth approximately $74,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRGP has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Scotiabank decreased their target price on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company raised their target price on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Mizuho upped their price objective on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada raised their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $211.00.

Targa Resources Stock Down 1.5 %

Shares of Targa Resources stock opened at $198.97 on Friday. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. The company has a market capitalization of $43.40 billion, a P/E ratio of 34.66, a PEG ratio of 0.61 and a beta of 2.32. The business’s fifty day moving average price is $199.68 and its two-hundred day moving average price is $184.39. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data 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). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. As a group, research analysts forecast that Targa Resources Corp. will post 8.15 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 given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Activity

In related news, CEO Matthew J. Meloy sold 48,837 shares of the business’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 transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now owns 2,899 shares of the company’s stock, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Corporate insiders own 1.39% of the company’s stock.

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.