WJ Financial Advisors LLC Makes New $395,000 Investment in Targa Resources, Inc. $TRGP

WJ Financial Advisors LLC purchased a new stake in Targa Resources, Inc. (NYSE:TRGP) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,358 shares of the pipeline company’s stock, valued at approximately $395,000.

Several other large investors also recently made changes to their positions in TRGP. Peoples Financial Services CORP. bought a new stake in Targa Resources in the 3rd quarter valued at $34,000. Root Financial Partners LLC bought a new position in Targa Resources during the 3rd quarter worth about $39,000. Avion Wealth raised its stake in shares of Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 228 shares during the period. First Horizon Corp bought a new stake in shares of Targa Resources in the third quarter valued at about $47,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Targa Resources during the second quarter worth about $53,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TRGP shares. Wells Fargo & Company lifted their target price on Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a report on Friday, January 9th. BMO Capital Markets boosted their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $266.00 target price on shares of Targa Resources in a research report on Wednesday, January 28th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $196.00 price target on shares of Targa Resources in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.50.

Targa Resources Trading Up 2.5%

Shares of NYSE:TRGP opened at $223.73 on Friday. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $225.35. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $48.02 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.88. The company has a 50-day simple moving average of $190.15 and a 200 day simple moving average of $173.41.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 30th. Targa Resources’s payout ratio is currently 53.19%.

Insider Activity at Targa Resources

In other news, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.21, for a total value of $498,327.50. Following the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.34% of the stock is currently owned by corporate insiders.

About Targa Resources

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.