PDS Planning Inc Invests $250,000 in Targa Resources Corp. (NYSE:TRGP)

PDS Planning Inc bought a new stake in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,402 shares of the pipeline company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its position in shares of Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after purchasing an additional 66 shares during the last quarter. Fisher Asset Management LLC raised its stake in Targa Resources by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock valued at $396,000 after buying an additional 67 shares in the last quarter. Mather Group LLC. lifted its holdings in Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock worth $540,000 after buying an additional 68 shares during the last quarter. Keybank National Association OH boosted its position in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock worth $3,470,000 after acquiring an additional 70 shares in the last quarter. Finally, Catalina Capital Group LLC increased its holdings in shares of Targa Resources by 3.9% in the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock valued at $400,000 after acquiring an additional 85 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRGP. 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 research note on Monday, March 3rd. Morgan Stanley upped their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank dropped their target price on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. One equities research 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’s stock. According to MarketBeat, Targa Resources presently has an average rating of “Buy” and an average target price of $210.50.

Insiders Place Their Bets

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the sale, the chief executive officer now directly owns 725,628 shares in the company, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Up 2.4 %

Shares of Targa Resources stock opened at $198.90 on Thursday. Targa Resources Corp. has a one year low of $108.65 and a one year high of $218.51. The company has a market cap of $43.38 billion, a P/E ratio of 34.65, a PEG ratio of 0.61 and a beta of 2.32. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a fifty day moving average of $199.54 and a two-hundred day moving average of $182.41.

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

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

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.