Delos Wealth Advisors LLC Buys New Shares in Targa Resources Corp. (NYSE:TRGP)

Delos Wealth Advisors LLC 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 500 shares of the pipeline company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRGP. Commonwealth Equity Services LLC increased its position in Targa Resources by 806.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 77,484 shares of the pipeline company’s stock valued at $6,642,000 after acquiring an additional 68,939 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Targa Resources by 9.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 46,414 shares of the pipeline company’s stock worth $3,979,000 after buying an additional 4,036 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Targa Resources by 26.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,619 shares of the pipeline company’s stock worth $3,825,000 after buying an additional 9,303 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Targa Resources by 8.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,763 shares of the pipeline company’s stock worth $408,000 after buying an additional 357 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Targa Resources by 1.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,298 shares of the pipeline company’s stock worth $3,111,000 after buying an additional 444 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Targa Resources news, CFO Jennifer R. Kneale sold 26,061 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.36, for a total value of $2,537,298.96. Following the transaction, the chief financial officer now owns 227,663 shares of the company’s stock, valued at $22,165,269.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Insiders have sold a total of 91,657 shares of company stock worth $9,079,078 in the last 90 days. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their price target on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus raised their price target on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Truist Financial raised their price target on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.92.

Targa Resources Stock Performance

TRGP traded up $1.14 during trading on Thursday, hitting $113.59. The stock had a trading volume of 1,209,733 shares, compared to its average volume of 1,715,394. The firm has a market cap of $25.18 billion, a PE ratio of 23.37 and a beta of 2.19. Targa Resources Corp. has a 12 month low of $67.36 and a 12 month high of $117.87. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 2.73. The company has a 50 day simple moving average of $111.25 and a 200-day simple moving average of $95.59.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Analysts expect that Targa Resources Corp. will post 5.72 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, April 29th. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio is presently 61.73%.

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.