Targa Resources, Inc. $TRGP Shares Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC increased its stake by 12.9% in Q4, buying 5,140 shares to hold 45,009 shares of Targa Resources valued at about $8.304 million.
• Targa Resources raised its quarterly dividend to $1.25 (annualized $5.00) from $1.00, implying a ~2.0% yield with an ex-dividend date of April 30 and payment on May 15.
• Wall Street analysts have lifted price targets and ratings—MarketBeat shows a consensus of "Moderate Buy" with an average target of about $259.93 (14 Buys, 3 Holds).

Sanctuary Advisors LLC increased its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,009 shares of the pipeline company's stock after purchasing an additional 5,140 shares during the quarter. Sanctuary Advisors LLC's holdings in Targa Resources were worth $8,304,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in Targa Resources in the fourth quarter worth $27,000. Peoples Financial Services CORP. purchased a new position in Targa Resources in the third quarter worth $34,000. Root Financial Partners LLC purchased a new position in Targa Resources in the third quarter worth $39,000. Eagle Bay Advisors LLC purchased a new position in Targa Resources in the fourth quarter worth $42,000. Finally, Avion Wealth raised its position in Targa Resources by 475.0% in the third quarter. Avion Wealth now owns 276 shares of the pipeline company's stock worth $46,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $248.39 on Wednesday. The stock has a market cap of $53.35 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.56 and a beta of 0.81. The company's 50-day moving average price is $239.59 and its 200 day moving average price is $200.57. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $253.87. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.16. The firm had revenue of $4.06 billion during the quarter, compared to analysts' expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. As a group, research analysts forecast that Targa Resources, Inc. will post 10.32 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, April 30th. This represents a $5.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from Targa Resources's previous quarterly dividend of $1.00. Targa Resources's dividend payout ratio (DPR) is 46.57%.

Insider Activity

In related news, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total transaction of $311,618.70. Following the completion of the sale, the director owned 77,094 shares in the company, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lindsey Cooksen sold 435 shares of Targa Resources stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $231.72, for a total value of $100,798.20. Following the sale, the director owned 11,670 shares of the company's stock, valued at approximately $2,704,172.40. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 104,929 shares of company stock worth $24,692,134 in the last quarter. Corporate insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRGP. Royal Bank Of Canada increased their price objective on Targa Resources from $260.00 to $270.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Citigroup increased their price objective on Targa Resources from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Barclays increased their price objective on Targa Resources from $226.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Mizuho raised their price target on Targa Resources from $207.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, March 19th. Finally, The Goldman Sachs Group lifted their price target on Targa Resources from $242.00 to $268.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $259.93.

Targa Resources 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.

Want to see what other hedge funds are holding TRGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Targa Resources, Inc. (NYSE:TRGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.