Targa Resources (NYSE:TRGP) Director Lindsey Cooksen Sells 435 Shares of Stock

Targa Resources, Inc. (NYSE:TRGP) Director Lindsey Cooksen sold 435 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total transaction of $100,798.20. Following the transaction, the director directly owned 11,670 shares in the company, valued at approximately $2,704,172.40. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Targa Resources Trading Up 1.9%

NYSE:TRGP opened at $235.55 on Friday. The company has a 50-day moving average price of $199.75 and a 200-day moving average price of $177.83. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 0.99 and a beta of 0.88. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $237.50.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. Equities analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is presently 46.57%.

Institutional Investors Weigh In On Targa Resources

A number of institutional investors have recently made changes to their positions in TRGP. Atlantic Union Bankshares Corp purchased a new position in Targa Resources in the 4th quarter worth approximately $27,000. Olistico Wealth LLC bought a new stake in shares of Targa Resources in the 4th quarter worth $27,000. Miller Capital Partners Inc. purchased a new position in shares of Targa Resources in the fourth quarter worth $30,000. Leonteq Securities AG bought a new position in shares of Targa Resources during the fourth quarter valued at $31,000. Finally, Peoples Financial Services CORP. purchased a new stake in shares of Targa Resources during the third quarter valued at $34,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Targa Resources from $207.00 to $248.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Stifel Nicolaus lifted their price target on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $242.00 price objective on shares of Targa Resources in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.50.

About Targa Resources

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.