OneAscent Financial Services LLC Sells 581 Shares of Targa Resources Corp. (NYSE:TRGP)

OneAscent Financial Services LLC trimmed its position in Targa Resources Corp. (NYSE:TRGP) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,874 shares of the pipeline company’s stock after selling 581 shares during the period. OneAscent Financial Services LLC’s holdings in Targa Resources were worth $434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its position in Targa Resources by 8.3% during the third quarter. LPL Financial LLC now owns 57,779 shares of the pipeline company’s stock worth $4,953,000 after buying an additional 4,426 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Targa Resources by 8.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,464 shares of the pipeline company’s stock worth $1,668,000 after purchasing an additional 1,548 shares in the last quarter. Trexquant Investment LP acquired a new stake in Targa Resources during the 3rd quarter worth approximately $335,000. Treasurer of the State of North Carolina lifted its holdings in shares of Targa Resources by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 98,232 shares of the pipeline company’s stock worth $8,420,000 after purchasing an additional 500 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Targa Resources by 131.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 67,606 shares of the pipeline company’s stock valued at $5,795,000 after buying an additional 38,369 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TRGP shares. Truist Financial boosted their price target on Targa Resources from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Barclays increased their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised their price target on Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price target on shares of Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.46.

Targa Resources Stock Up 0.2 %

Shares of NYSE TRGP traded up $0.20 during mid-day trading on Friday, reaching $128.78. 3,430,547 shares of the company were exchanged, compared to its average volume of 1,523,420. The firm has a 50-day moving average of $118.04 and a 200 day moving average of $103.85. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. Targa Resources Corp. has a 1 year low of $74.20 and a 1 year high of $130.53. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 0.76 and a beta of 2.21.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.28 billion. On average, research analysts expect that Targa Resources Corp. will post 5.27 earnings per share for the current year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.33%. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, April 29th. Targa Resources’s payout ratio is presently 61.73%.

Insider Buying and Selling

In other Targa Resources news, Director Charles R. Crisp sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $112.54, for a total transaction of $787,780.00. Following the completion of the sale, the director now directly owns 95,471 shares of the company’s stock, valued at approximately $10,744,306.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Charles R. Crisp sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total transaction of $787,780.00. Following the transaction, the director now directly owns 95,471 shares of the company’s stock, valued at approximately $10,744,306.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Julie H. Boushka sold 2,691 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at $6,466,764. The disclosure for this sale can be found here. Insiders have sold 42,791 shares of company stock worth $4,907,563 in the last ninety days. 1.39% of the stock is owned by corporate insiders.

Targa Resources Profile

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.