Captrust Financial Advisors Has $19.41 Million Stake in Targa Resources Corp. (NYSE:TRGP)

Captrust Financial Advisors trimmed its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,726 shares of the pipeline company's stock after selling 5,227 shares during the period. Captrust Financial Advisors' holdings in Targa Resources were worth $19,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB raised its stake in shares of Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after purchasing an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock valued at $1,476,000 after purchasing an additional 5,431 shares during the last quarter. Atomi Financial Group Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at about $271,000. Segment Wealth Management LLC boosted its holdings in Targa Resources by 2,753.4% during the fourth quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock worth $9,876,000 after purchasing an additional 53,389 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Targa Resources by 133.4% during the 4th quarter. Diversified Trust Co now owns 11,475 shares of the pipeline company's stock worth $2,048,000 after buying an additional 6,558 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TRGP shares. Scotiabank dropped their price target on Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Barclays lowered their price target on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley increased their price objective on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Finally, US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and an average price target of $207.21.

Insider Buying and Selling

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.34% of the company's stock.

Targa Resources Stock Performance

Targa Resources stock opened at $157.61 on Wednesday. Targa Resources Corp. has a 1-year low of $112.05 and a 1-year high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $34.29 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The firm's 50 day simple moving average is $180.89 and its 200 day simple moving average is $188.23.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. As a group, analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Targa Resources's payout ratio is 73.66%.

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.

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