Targa Resources Corp. (NYSE:TRGP - Get Free Report) insider Robert Muraro sold 100 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.00, for a total transaction of $13,000.00. Following the sale, the insider now directly owns 196,851 shares of the company's stock, valued at approximately $25,590,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Robert Muraro also recently made the following trade(s):
- On Monday, June 10th, Robert Muraro sold 10,000 shares of Targa Resources stock. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00.
Targa Resources Stock Performance
Shares of TRGP stock opened at $128.78 on Friday. The stock has a market cap of $28.55 billion, a P/E ratio of 26.50, a P/E/G ratio of 0.76 and a beta of 2.21. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. The company has a fifty day moving average price of $118.04 and a two-hundred day moving average price of $103.85. Targa Resources Corp. has a one year low of $74.20 and a one year high of $130.53.
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Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.13). The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. As a group, equities analysts predict that Targa Resources Corp. will post 5.27 EPS for the current year.
Targa Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, April 29th. This is a boost from Targa Resources's previous quarterly dividend of $0.50. Targa Resources's dividend payout ratio (DPR) is currently 61.73%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TRGP. Scotiabank increased their price objective on shares of Targa Resources from $112.00 to $128.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 15th. Argus initiated coverage on shares of Targa Resources in a research report on Wednesday. They issued a "buy" rating and a $140.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Targa Resources from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, June 7th. Wells Fargo & Company raised their target price on shares of Targa Resources from $109.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada raised their target price on shares of Targa Resources from $123.00 to $128.00 and gave the company an "outperform" rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of "Moderate Buy" and a consensus price target of $129.46.
Read Our Latest Analysis on Targa Resources
Institutional Trading of Targa Resources
A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Targa Resources by 15.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 977 shares of the pipeline company's stock worth $111,000 after buying an additional 128 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Targa Resources by 21.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,744 shares of the pipeline company's stock worth $6,927,000 after buying an additional 11,098 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Targa Resources by 166.9% during the 1st quarter. Cetera Advisors LLC now owns 6,453 shares of the pipeline company's stock worth $723,000 after buying an additional 4,035 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Targa Resources by 215.2% during the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company's stock worth $3,478,000 after buying an additional 21,200 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Targa Resources during the 1st quarter worth about $1,151,000. Institutional investors and hedge funds own 92.13% of the company's stock.
About Targa Resources
(
Get Free Report)
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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