Targa Resources Corp. (NYSE:TRGP) CAO Sells $160,140.26 in Stock

Targa Resources Corp. (NYSE:TRGP) CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 52,257 shares in the company, valued at $6,898,969.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Targa Resources Stock Performance

Targa Resources stock traded down $1.02 during midday trading on Friday, reaching $135.69. The stock had a trading volume of 1,744,611 shares, compared to its average volume of 1,628,773. The firm has a market capitalization of $30.08 billion, a PE ratio of 27.92, a P/E/G ratio of 0.69 and a beta of 2.27. Targa Resources Corp. has a 12 month low of $77.97 and a 12 month high of $139.35. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The firm’s 50-day moving average price is $129.19 and its 200 day moving average price is $113.93.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the firm earned $1.44 EPS. As a group, research analysts predict that Targa Resources Corp. will post 5.51 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 2.21%. Targa Resources’s payout ratio is 61.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Scotiabank lifted their target price on Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada upped their target price on shares of Targa Resources from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Company raised their price target on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.62.

Institutional Trading of Targa Resources

Several hedge funds and other institutional investors have recently bought and sold shares of TRGP. Asset Management One Co. Ltd. grew its holdings in Targa Resources by 3.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 83,463 shares of the pipeline company’s stock worth $7,207,000 after acquiring an additional 2,635 shares during the last quarter. International Assets Investment Management LLC raised its position in Targa Resources by 15,867.4% during the 4th quarter. International Assets Investment Management LLC now owns 89,737 shares of the pipeline company’s stock valued at $7,795,000 after purchasing an additional 89,175 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Targa Resources by 34.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 51,646 shares of the pipeline company’s stock worth $4,440,000 after buying an additional 13,315 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Targa Resources by 4.9% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,084 shares of the pipeline company’s stock valued at $355,000 after buying an additional 192 shares during the period. Finally, RFG Advisory LLC increased its stake in shares of Targa Resources by 3.4% during the fourth quarter. RFG Advisory LLC now owns 12,310 shares of the pipeline company’s stock valued at $1,069,000 after buying an additional 410 shares during the period. Institutional investors own 92.13% of the company’s stock.

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.