Robert Muraro Sells 24,589 Shares of Targa Resources (NYSE:TRGP) Stock

Key Points

• Insider sale: Robert Muraro sold 24,589 shares of Targa Resources on March 5 at an average price of $241.34 for about $5.93 million, trimming his holding by 11.08% to 197,401 shares (≈$47.64M).
• Company performance & outlook: Targa beat Q4 EPS expectations ($2.51 vs. $2.35) while revenue was slightly below estimates; the stock trades around $237.30 (1‑year high $250), pays a $1.00 quarterly dividend (annual $4.00, ~1.7% yield), and carries a consensus "Moderate Buy" rating with an average price target of $240.79.

Targa Resources, Inc. (NYSE:TRGP - Get Free Report) insider Robert Muraro sold 24,589 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the transaction, the insider owned 197,401 shares of the company's stock, valued at approximately $47,640,757.34. The trade was a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Targa Resources Price Performance

Shares of NYSE:TRGP traded down $1.71 during mid-day trading on Friday, reaching $237.30. The stock had a trading volume of 2,210,267 shares, compared to its average volume of 1,456,141. The business's 50 day moving average price is $204.36 and its 200 day moving average price is $179.93. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $250.00. The company has a market cap of $51.01 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. 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 released its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping 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 return on equity of 65.48% and a net margin of 10.88%. Research analysts expect that Targa Resources, Inc. will post 8.15 EPS 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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources's dividend payout ratio is presently 46.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Targa Resources from $218.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. BMO Capital Markets reiterated an "outperform" rating and issued a $241.00 price target on shares of Targa Resources in a research report on Friday, February 20th. Morgan Stanley upped their price objective on Targa Resources from $266.00 to $298.00 and gave the company an "overweight" rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Targa Resources from $213.00 to $243.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, Wall Street Zen cut Targa Resources from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $240.79.

Hedge Funds Weigh In On Targa Resources

Several institutional investors have recently made changes to their positions in TRGP. Woodline Partners LP lifted its stake in Targa Resources by 40.7% in the first quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company's stock worth $3,693,000 after acquiring an additional 5,327 shares during the period. Focus Partners Wealth raised its holdings in shares of Targa Resources by 157.4% in the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company's stock valued at $788,000 after purchasing an additional 2,404 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Targa Resources by 13.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,248 shares of the pipeline company's stock worth $217,000 after purchasing an additional 145 shares during the period. Assetmark Inc. boosted its stake in shares of Targa Resources by 381.6% during the second quarter. Assetmark Inc. now owns 1,469 shares of the pipeline company's stock valued at $256,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Targa Resources by 24.2% during the second quarter. Huntington National Bank now owns 745 shares of the pipeline company's stock valued at $130,000 after purchasing an additional 145 shares in the last quarter. 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.

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