Wealth Enhancement Advisory Services LLC Buys 9,990 Shares of Targa Resources, Inc. $TRGP

Wealth Enhancement Advisory Services LLC grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 34.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,177 shares of the pipeline company’s stock after purchasing an additional 9,990 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Targa Resources were worth $6,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Targa Resources in the second quarter valued at about $708,366,000. Wellington Management Group LLP increased its stake in Targa Resources by 9.0% during the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after acquiring an additional 1,620,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Targa Resources in the 3rd quarter valued at approximately $121,426,000. Vanguard Group Inc. raised its holdings in Targa Resources by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock valued at $4,755,169,000 after acquiring an additional 422,075 shares in the last quarter. Finally, Merewether Investment Management LP lifted its position in shares of Targa Resources by 52.9% in the 2nd quarter. Merewether Investment Management LP now owns 992,582 shares of the pipeline company’s stock worth $172,789,000 after acquiring an additional 343,319 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.0%

Shares of Targa Resources stock opened at $250.57 on Friday. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $253.40. The stock has a market capitalization of $53.86 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. The company has a 50-day simple moving average of $223.17 and a 200 day simple moving average of $188.60. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21.

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

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $1.00 per share. The ex-dividend date was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Targa Resources’s dividend payout ratio is 46.57%.

Analysts Set New Price Targets

TRGP has been the topic of a number of research reports. Barclays restated an “overweight” rating and set a $226.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. Wells Fargo & Company lifted their price target on shares of Targa Resources from $248.00 to $264.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. UBS Group increased their price objective on shares of Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Morgan Stanley raised their price objective on shares of Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $252.57.

Insider Activity

In other Targa Resources news, Director Lindsey Cooksen sold 435 shares of Targa Resources stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $231.72, for a total value of $100,798.20. Following the completion of the transaction, the director owned 11,670 shares in the company, valued at approximately $2,704,172.40. The trade was a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider directly owned 197,401 shares in the company, valued at approximately $47,640,757.34. This represents a 11.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is currently owned by insiders.

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.