11,026 Shares in Targa Resources, Inc. $TRGP Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 11,026 shares of the pipeline company’s stock, valued at approximately $1,847,000.

Other large investors have also recently bought and sold shares of the company. Woodline Partners LP grew its holdings in shares of Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after buying an additional 5,327 shares during the period. Focus Partners Wealth lifted its holdings in Targa Resources by 157.4% during the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after acquiring an additional 2,404 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Targa Resources during the second quarter worth about $331,000. ProShare Advisors LLC grew its stake in Targa Resources by 9.7% in the second quarter. ProShare Advisors LLC now owns 71,092 shares of the pipeline company’s stock valued at $12,376,000 after acquiring an additional 6,314 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Targa Resources by 287.6% in the second quarter. Allworth Financial LP now owns 2,434 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 1,806 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 1.7%

TRGP stock opened at $236.49 on Thursday. 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 stock has a market capitalization of $50.83 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.99 and a beta of 0.84. The business has a 50-day moving average of $208.44 and a 200-day moving average of $182.10. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $250.00.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%.The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.12 billion. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is currently 46.57%.

Insider Activity at Targa Resources

In related news, insider Patrick J. Mcdonie sold 31,537 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the completion of the transaction, the insider owned 305,163 shares in the company, valued at approximately $73,043,815.68. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 17,500 shares of the firm’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 completion of the transaction, the insider directly owned 31,938 shares of the company’s stock, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada raised their price target on Targa Resources from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Barclays restated an “overweight” rating and set a $226.00 target price on shares of Targa Resources in a report on Friday, February 20th. Stifel Nicolaus lifted their price target on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, TD Cowen upped their price target on shares of Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.79.

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.