2,418 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Callan Family Office LLC

Callan Family Office LLC bought a new stake in Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,418 shares of the pipeline company’s stock, valued at approximately $432,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its stake in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after acquiring an additional 10,100 shares during the last quarter. Nordea Investment Management AB grew its holdings in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after purchasing an additional 13,167 shares during the period. Capital Investment Advisors LLC increased its stake in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Targa Resources by 47.5% during the third quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company’s stock worth $4,277,000 after purchasing an additional 9,307 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in shares of Targa Resources during the fourth quarter worth $271,000. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TRGP. Wells Fargo & Company raised their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Citigroup lifted their price objective on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus increased their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group raised their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $206.43.

Targa Resources Stock Down 0.0 %

TRGP stock opened at $181.93 on Monday. The business’s 50 day simple moving average is $198.77 and its 200 day simple moving average is $180.22. Targa Resources Corp. has a 1-year low of $103.18 and a 1-year high of $218.51. The firm has a market capitalization of $39.68 billion, a PE ratio of 31.70, a PEG ratio of 0.61 and a beta of 2.32. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Buying and Selling

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. The trade was a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the sale, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock valued at $22,613,288 over the last quarter. 1.39% of the stock is owned by company 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.