OneAscent Financial Services LLC Sells 1,861 Shares of Targa Resources Corp. (NYSE:TRGP)

OneAscent Financial Services LLC decreased its holdings in Targa Resources Corp. (NYSE:TRGP) by 36.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,276 shares of the pipeline company’s stock after selling 1,861 shares during the quarter. OneAscent Financial Services LLC’s holdings in Targa Resources were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TRGP. Strategic Investment Solutions Inc. IL bought a new position in Targa Resources in the 2nd quarter valued at $29,000. DT Investment Partners LLC bought a new position in Targa Resources in the 3rd quarter valued at $29,000. UMB Bank n.a. raised its position in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Whittier Trust Co. bought a new position in Targa Resources in the 2nd quarter valued at $44,000. Finally, EdgeRock Capital LLC bought a new position in Targa Resources in the 2nd quarter valued at $69,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 1.5 %

NYSE TRGP opened at $199.00 on Tuesday. The stock has a 50-day simple moving average of $163.51 and a 200 day simple moving average of $141.15. The company has a market capitalization of $43.39 billion, a PE ratio of 35.99, a P/E/G ratio of 0.78 and a beta of 2.24. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $199.76.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $0.97 earnings per share. Research analysts forecast that Targa Resources Corp. will post 6.23 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.51%. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Insider Buying and Selling at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was 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 of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,760 shares of company stock valued at $30,026,712. 1.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TRGP shares. Morgan Stanley boosted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group boosted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday. Argus upgraded Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group boosted their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $169.79.

About Targa Resources

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.