50,603 Shares in Targa Resources, Inc. $TRGP Acquired by NFC Investments LLC

NFC Investments LLC bought a new stake in Targa Resources, Inc. (NYSE:TRGP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,603 shares of the pipeline company’s stock, valued at approximately $8,478,000. Targa Resources makes up approximately 2.5% of NFC Investments LLC’s holdings, making the stock its 14th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its position in shares of Targa Resources by 1.3% in the third quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after acquiring an additional 64 shares in the last quarter. State of Wyoming raised its position in shares of Targa Resources by 3.2% in the second quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock valued at $361,000 after buying an additional 64 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Targa Resources by 2.6% during the third quarter. Savant Capital LLC now owns 2,849 shares of the pipeline company’s stock valued at $477,000 after buying an additional 73 shares during the period. ICONIQ Capital LLC boosted its position in Targa Resources by 5.7% during the second quarter. ICONIQ Capital LLC now owns 1,437 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 78 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Targa Resources by 10.9% during the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock worth $140,000 after acquiring an additional 79 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Patrick J. Mcdonie sold 31,537 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the transaction, the insider directly owned 305,163 shares in the company, valued at $73,043,815.68. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 17,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the sale, the insider owned 31,938 shares of the company’s stock, valued at approximately $7,311,246.96. The trade was a 35.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 83,090 shares of company stock valued at $19,256,152 over the last three months. Company insiders own 1.34% of the company’s stock.

Targa Resources Stock Down 0.3%

Shares of Targa Resources stock opened at $243.28 on Thursday. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $250.00. The company has a market capitalization of $52.29 billion, a PE ratio of 28.32, a P/E/G ratio of 1.05 and a beta of 0.84. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. The business has a 50-day moving average of $203.26 and a 200-day moving average of $179.51.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. As a group, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s payout ratio is currently 46.57%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TRGP shares. BMO Capital Markets reissued an “outperform” rating and issued a $241.00 price target on shares of Targa Resources in a research note on Friday, February 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $242.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Barclays restated an “overweight” rating and issued a $226.00 target price on shares of Targa Resources in a report on Friday, February 20th. TD Cowen increased their price target on shares of Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and a consensus target price of $240.79.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.