Childress Capital Advisors LLC Sells 16,446 Shares of Targa Resources Corp. (NYSE:TRGP)

Childress Capital Advisors LLC decreased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 48.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,694 shares of the pipeline company’s stock after selling 16,446 shares during the period. Targa Resources accounts for about 0.7% of Childress Capital Advisors LLC’s holdings, making the stock its 28th largest holding. Childress Capital Advisors LLC’s holdings in Targa Resources were worth $2,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new stake in Targa Resources in the second quarter valued at $29,000. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the third quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after buying an additional 222 shares during the period. Whittier Trust Co. purchased a new position in shares of Targa Resources during the 2nd quarter worth approximately $44,000. Finally, Rogco LP purchased a new position in shares of Targa Resources in the 1st quarter valued at approximately $56,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 0.2 %

Shares of Targa Resources stock opened at $164.41 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $169.92. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 1.29 and a beta of 2.25. The company’s 50 day moving average is $153.83 and its 200 day moving average is $134.87.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same quarter in the prior year, the business earned $1.44 earnings per share. Research analysts anticipate that Targa Resources Corp. will post 5.92 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.82%. Targa Resources’s payout ratio is presently 63.16%.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the sale, the chief accounting officer now directly owns 52,257 shares in the company, valued at $6,898,969.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Paul W. Chung sold 916 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total value of $124,896.60. Following the completion of the sale, the director now directly owns 238,591 shares of the company’s stock, valued at $32,531,882.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 1,213 shares of Targa Resources stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares in the company, valued at approximately $6,898,969.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,534 shares of company stock worth $26,815,021 in the last 90 days. 1.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on TRGP shares. Morgan Stanley increased their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America assumed coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective on the stock. Barclays lifted their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price target on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their price objective on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average target price of $152.79.

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.