Eagle Wealth Strategies LLC Acquires Shares of 4,813 Targa Resources Corp. (NYSE:TRGP)

Eagle Wealth Strategies LLC acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, Holdings Channel.com reports. The firm acquired 4,813 shares of the pipeline company’s stock, valued at approximately $418,000.

A number of other hedge funds have also bought and sold shares of TRGP. Czech National Bank increased its position in Targa Resources by 46.1% during the 3rd quarter. Czech National Bank now owns 39,100 shares of the pipeline company’s stock valued at $3,352,000 after purchasing an additional 12,344 shares during the period. Asset Management One Co. Ltd. increased its position in Targa Resources by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 80,828 shares of the pipeline company’s stock valued at $6,929,000 after purchasing an additional 653 shares during the period. Ballentine Partners LLC increased its position in Targa Resources by 4.4% during the 3rd quarter. Ballentine Partners LLC now owns 3,370 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 142 shares during the period. Commonwealth Equity Services LLC increased its position in Targa Resources by 806.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 77,484 shares of the pipeline company’s stock valued at $6,642,000 after purchasing an additional 68,939 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Targa Resources by 9.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 46,414 shares of the pipeline company’s stock valued at $3,979,000 after purchasing an additional 4,036 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 0.1 %

TRGP stock opened at $116.75 on Monday. The firm has a 50 day moving average of $108.36 and a 200 day moving average of $94.04. The stock has a market capitalization of $25.98 billion, a PE ratio of 31.84 and a beta of 2.21. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. Targa Resources Corp. has a 52 week low of $67.36 and a 52 week high of $117.87.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Sell-side analysts forecast that Targa Resources Corp. will post 5.8 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. Targa Resources’s dividend payout ratio (DPR) is currently 54.50%.

Analyst Ratings Changes

A number of research firms have commented on TRGP. UBS Group cut their target price on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Mizuho raised their price target on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Scotiabank raised their price target on shares of Targa Resources from $112.00 to $128.00 and gave the company a “sector outperform” rating in a report on Monday, April 15th. Barclays raised their price target on shares of Targa Resources from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada raised their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and an average target price of $119.55.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the transaction, the insider now directly owns 156,098 shares of the company’s stock, valued at approximately $15,141,506. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the transaction, the director now directly owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider D. Scott Pryor sold 10,000 shares of Targa Resources stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the transaction, the insider now directly owns 156,098 shares of the company’s stock, valued at $15,141,506. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is owned by insiders.

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.