CFM Wealth Partners LLC Sells 204 Shares of Targa Resources Corp. (NYSE:TRGP)

CFM Wealth Partners LLC lessened its position in shares of Targa Resources Corp. (NYSE:TRGP) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,709 shares of the pipeline company’s stock after selling 204 shares during the period. CFM Wealth Partners LLC’s holdings in Targa Resources were worth $1,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Targa Resources by 2.7% in the second quarter. Thrivent Financial for Lutherans now owns 9,337 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 245 shares during the period. Algert Global LLC boosted its stake in shares of Targa Resources by 123.0% in the second quarter. Algert Global LLC now owns 4,147 shares of the pipeline company’s stock valued at $534,000 after buying an additional 2,287 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Targa Resources by 100.1% in the second quarter. NewEdge Advisors LLC now owns 12,444 shares of the pipeline company’s stock valued at $1,603,000 after buying an additional 6,225 shares during the period. Cetera Investment Advisers boosted its stake in shares of Targa Resources by 4.7% in the second quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock valued at $4,188,000 after buying an additional 1,467 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Targa Resources in the second quarter valued at approximately $1,992,000. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRGP. Stifel Nicolaus boosted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Scotiabank began coverage on shares of Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley boosted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One 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, the company currently has a consensus rating of “Buy” and a consensus target price of $189.21.

Targa Resources Stock Performance

NYSE TRGP opened at $196.55 on Monday. The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a twelve month low of $84.33 and a twelve month high of $218.51. The stock has a fifty day simple moving average of $193.19 and a 200 day simple moving average of $168.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the business posted $0.97 earnings per share. Sell-side analysts expect that Targa Resources Corp. will post 6.41 EPS for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.

Targa Resources Company 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.