Targa Resources (NYSE:TRGP) Insider D. Scott Pryor Sells 20,000 Shares of Stock

Targa Resources, Inc. (NYSE:TRGP) insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the sale, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. This trade represents a 47.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Targa Resources Stock Performance

NYSE:TRGP opened at $170.00 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. The firm has a 50-day moving average price of $162.08 and a 200 day moving average price of $164.57. The firm has a market capitalization of $36.49 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.02). The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.70 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. Research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%.

Analyst Ratings Changes

TRGP has been the topic of several analyst reports. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a report on Thursday, November 6th. The Goldman Sachs Group reduced their price target on shares of Targa Resources from $189.00 to $188.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley lifted their target price on shares of Targa Resources from $240.00 to $261.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, Royal Bank Of Canada increased their price target on Targa Resources from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.21.

Hedge Funds Weigh In On Targa Resources

A number of institutional investors have recently modified their holdings of TRGP. Fulcrum Asset Management LLP bought a new stake in shares of Targa Resources during the third quarter valued at approximately $192,000. NewEdge Advisors LLC raised its position in Targa Resources by 1.7% in the 3rd quarter. NewEdge Advisors LLC now owns 32,607 shares of the pipeline company’s stock worth $5,463,000 after purchasing an additional 546 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Targa Resources by 4.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 267,660 shares of the pipeline company’s stock worth $45,264,000 after buying an additional 12,504 shares in the last quarter. Woodline Partners LP lifted its holdings in Targa Resources by 21.2% during the 3rd quarter. Woodline Partners LP now owns 28,440 shares of the pipeline company’s stock worth $4,765,000 after buying an additional 4,975 shares in the last quarter. Finally, PharVision Advisers LLC bought a new position in Targa Resources in the 3rd quarter valued at $248,000. 92.13% of the stock is owned by institutional investors.

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.