Sequoia Financial Advisors LLC Acquires 200 Shares of Targa Resources Corp. (NYSE:TRGP)

Sequoia Financial Advisors LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 4.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,790 shares of the pipeline company’s stock after buying an additional 200 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Targa Resources were worth $855,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after purchasing an additional 633,589 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Targa Resources by 1.7% during the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after purchasing an additional 97,583 shares in the last quarter. Amundi boosted its position in shares of Targa Resources by 20.9% during the fourth quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock valued at $353,469,000 after purchasing an additional 318,261 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Targa Resources by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock valued at $261,344,000 after purchasing an additional 38,723 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after purchasing an additional 14,287 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insider Activity at Targa Resources

In related news, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by insiders.

Targa Resources Stock Up 4.0 %

TRGP stock opened at $190.13 on Monday. Targa Resources Corp. has a 1-year low of $106.04 and a 1-year high of $218.51. The business has a fifty day moving average price of $199.06 and a 200-day moving average price of $181.60. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a market capitalization of $41.47 billion, a P/E ratio of 33.12, a P/E/G ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Analysts Set New Price Targets

TRGP has been the topic of several research reports. Wells Fargo & Company lifted their price target on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Royal Bank of Canada boosted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Scotiabank dropped their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and a consensus price target of $206.43.

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.