D. Scott Pryor Sells 17,500 Shares of Targa Resources (NYSE:TRGP) Stock

Targa Resources, Inc. (NYSE:TRGP) insider D. Scott Pryor sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider directly owned 31,938 shares in the company, valued at $7,311,246.96. The trade was a 35.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Targa Resources Trading Up 1.9%

Shares of NYSE:TRGP traded up $4.33 during trading on Friday, hitting $235.55. The company had a trading volume of 2,369,548 shares, compared to its average volume of 1,396,758. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. The company has a fifty day simple moving average of $198.60 and a two-hundred day simple moving average of $177.35. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $237.50.

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

Targa Resources Announces Dividend

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. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio is currently 46.57%.

Analyst Ratings Changes

Several equities analysts recently commented on TRGP shares. BMO Capital Markets reiterated an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a report on Friday, February 20th. Weiss Ratings upgraded Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Stifel Nicolaus increased their price target on Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wall Street Zen lowered Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, TD Cowen upped their price objective on Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average target price of $238.50.

Hedge Funds Weigh In On Targa Resources

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

Targa Resources Company 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.