Hamilton Capital LLC Purchases Shares of 1,738 Targa Resources, Inc. $TRGP

Hamilton Capital LLC purchased a new stake in Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,738 shares of the pipeline company’s stock, valued at approximately $466,000.

Other institutional investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new stake in Targa Resources during the fourth quarter valued at $27,000. Miller Capital Partners Inc. bought a new position in Targa Resources in the 4th quarter worth about $30,000. Leonteq Securities AG purchased a new stake in shares of Targa Resources in the 4th quarter valued at about $31,000. Jones Financial Companies Lllp purchased a new stake in shares of Targa Resources in the 2nd quarter valued at about $32,000. Finally, Compass Financial Management LLC bought a new stake in shares of Targa Resources during the 2nd quarter valued at about $33,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $289.49 on Friday. The stock’s 50-day moving average is $274.46 and its 200 day moving average is $256.89. The stock has a market cap of $62.07 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.40 and a beta of 0.72. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $307.94. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.71. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 11.2 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s dividend payout ratio (DPR) is presently 47.80%.

Analyst Ratings Changes

Several brokerages have recently commented on TRGP. Scotiabank boosted their price objective on Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Truist Financial lifted their target price on shares of Targa Resources from $289.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Jefferies Financial Group boosted their price target on shares of Targa Resources from $324.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. US Capital Advisors lowered shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Finally, UBS Group restated a “buy” rating and set a $318.00 price objective on shares of Targa Resources in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $298.71.

Insiders Place Their Bets

In other news, Director Waters S. Iv Davis sold 2,400 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $299.67, for a total transaction of $719,208.00. Following the transaction, the director directly owned 1,529 shares of the company’s stock, valued at approximately $458,195.43. This trade represents a 61.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the sale, the director directly owned 62,292 shares of the company’s stock, valued at approximately $18,079,007.16. This trade represents a 4.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by company insiders.

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.