Searle & CO. Sells 500 Shares of Targa Resources Corp. (NYSE:TRGP)

Searle & CO. trimmed its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,000 shares of the pipeline company’s stock after selling 500 shares during the period. Searle & CO.’s holdings in Targa Resources were worth $3,348,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TRGP. UMB Bank n.a. raised its position in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Spire Wealth Management raised its position in Targa Resources by 2,400.0% in the 1st quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock valued at $31,000 after buying an additional 264 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Targa Resources in the 4th quarter valued at $42,000. Delos Wealth Advisors LLC purchased a new stake in shares of Targa Resources during the 4th quarter valued at $43,000. Finally, Whittier Trust Co. purchased a new stake in shares of Targa Resources during the 2nd quarter valued at $44,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 9,900 shares of Targa Resources stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.31, for a total transaction of $1,290,069.00. Following the sale, the insider now directly owns 186,951 shares in the company, valued at $24,361,584.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Targa Resources news, insider Robert Muraro sold 9,900 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $130.31, for a total value of $1,290,069.00. Following the sale, the insider now directly owns 186,951 shares of the company’s stock, valued at $24,361,584.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul W. Chung sold 916 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was 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 in the company, valued at $32,531,882.85. The disclosure for this sale can be found here. Insiders have sold 43,034 shares of company stock worth $5,623,890 over the last ninety days. 1.39% of the stock is owned by corporate insiders.

Targa Resources Trading Up 0.4 %

Targa Resources stock traded up $0.61 during trading hours on Friday, reaching $146.90. The company had a trading volume of 2,325,456 shares, compared to its average volume of 1,618,626. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.65 and a quick ratio of 0.53. The company has a 50-day moving average price of $135.87 and a 200 day moving average price of $119.84. The firm has a market cap of $32.18 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 1.15 and a beta of 2.27. Targa Resources Corp. has a 12-month low of $77.97 and a 12-month high of $147.08.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. During the same period last year, the company earned $1.44 EPS. Equities analysts forecast that Targa Resources Corp. will post 5.88 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.04%. Targa Resources’s dividend payout ratio is presently 61.73%.

Analysts Set New Price Targets

TRGP has been the subject of several research reports. UBS Group increased their price target on Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their target price on Targa Resources from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Barclays raised their target price on Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 3rd. Scotiabank raised their target price on Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company raised their target price on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.54.

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.