Capital Planning Advisors LLC Makes New Investment in Targa Resources, Inc. $TRGP

Capital Planning Advisors LLC purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,384 shares of the pipeline company’s stock, valued at approximately $902,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRGP. Woodline Partners LP raised its position in Targa Resources by 40.7% during the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after purchasing an additional 5,327 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Targa Resources by 157.4% in the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Targa Resources by 12.3% in the second quarter. Axxcess Wealth Management LLC now owns 2,160 shares of the pipeline company’s stock worth $376,000 after acquiring an additional 236 shares during the period. Nordea Investment Management AB grew its holdings in Targa Resources by 260.2% during the 2nd quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after acquiring an additional 93,119 shares in the last quarter. Finally, Private Trust Co. NA increased its position in Targa Resources by 57.1% during the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 173 shares during the period. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRGP. UBS Group reaffirmed a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Morgan Stanley reissued an “overweight” rating and issued a $266.00 price objective on shares of Targa Resources in a research note on Wednesday, January 28th. Royal Bank Of Canada increased their target price on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Scotiabank reiterated an “outperform” rating and issued a $224.00 price target on shares of Targa Resources in a report on Friday, January 16th. Finally, Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.50.

Insider Buying and Selling at Targa Resources

In related news, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.34% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $223.73 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. The company has a market cap of $48.03 billion, a PE ratio of 29.75, a PEG ratio of 0.96 and a beta of 0.88. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $225.35. The business’s fifty day simple moving average is $190.15 and its 200-day simple moving average is $173.48.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.