Targa Resources, Inc. $TRGP Shares Sold by Trilogy Capital Inc.

Key Points

• Trilogy Capital cut its stake in Targa Resources by 89.6% in Q4, selling 15,088 shares and leaving 1,744 shares valued at about $322,000.
• Company insiders have been heavy sellers — Robert Muraro sold 24,589 shares (~$5.93M) on March 5, and insiders sold 104,929 shares worth $24.69M over the last 90 days, with insiders now owning 1.37% of the stock.
• Analysts have raised price targets and ratings (Citigroup, Stifel, UBS, Morgan Stanley, RBC), leaving a consensus Moderate Buy and average target of $256.71; Targa also posted an EPS beat and pays a $4.00 annual dividend (≈1.6% yield).

Trilogy Capital Inc. cut its holdings in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 89.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,744 shares of the pipeline company's stock after selling 15,088 shares during the quarter. Trilogy Capital Inc.'s holdings in Targa Resources were worth $322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in Targa Resources during the fourth quarter worth about $27,000. Peoples Financial Services CORP. acquired a new position in Targa Resources during the third quarter worth about $34,000. Root Financial Partners LLC acquired a new position in Targa Resources during the third quarter worth about $39,000. Avion Wealth boosted its position in Targa Resources by 475.0% during the third quarter. Avion Wealth now owns 276 shares of the pipeline company's stock worth $46,000 after acquiring an additional 228 shares during the last quarter. Finally, First Horizon Corp acquired a new position in Targa Resources during the third quarter worth about $47,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Robert Muraro sold 24,589 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the sale, the insider directly owned 197,401 shares of the company's stock, valued at $47,640,757.34. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 1,359 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total transaction of $311,618.70. Following the sale, the director directly owned 77,094 shares in the company, valued at approximately $17,677,654.20. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,929 shares of company stock worth $24,692,134 over the last 90 days. Company insiders own 1.37% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Targa Resources from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Stifel Nicolaus lifted their target price on shares of Targa Resources from $213.00 to $243.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. UBS Group lifted their target price on shares of Targa Resources from $228.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Morgan Stanley lifted their target price on shares of Targa Resources from $298.00 to $327.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada lifted their target price on shares of Targa Resources from $218.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Targa Resources currently has an average rating of "Moderate Buy" and a consensus price target of $256.71.

Targa Resources Price Performance

Shares of TRGP stock opened at $243.36 on Friday. 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 firm's 50-day moving average is $233.70 and its two-hundred day moving average is $194.23. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $253.87. The company has a market capitalization of $52.27 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.16. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. Analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

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

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.

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