2,358 Shares in Targa Resources, Inc. $TRGP Acquired by WJ Financial Advisors LLC

WJ Financial Advisors LLC acquired a new stake in Targa Resources, Inc. (NYSE:TRGP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,358 shares of the pipeline company’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRGP. Peoples Financial Services CORP. acquired a new stake in shares of Targa Resources in the third quarter valued at $34,000. Root Financial Partners LLC bought a new stake in Targa Resources during the 3rd quarter worth about $39,000. Avion Wealth increased its position in Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 228 shares in the last quarter. First Horizon Corp acquired a new stake in Targa Resources in the 3rd quarter valued at about $47,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Targa Resources in the second quarter worth about $53,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insiders Place Their Bets

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.34% of the company’s stock.

Targa Resources Stock Up 2.5%

Shares of NYSE:TRGP opened at $223.73 on Friday. The company has a 50 day moving average price of $190.15 and a two-hundred day moving average price of $173.41. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $48.02 billion, a PE ratio of 29.75, a PEG ratio of 0.94 and a beta of 0.88. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $225.35.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $1.00 dividend. The ex-dividend date was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio is currently 53.19%.

Analyst Ratings Changes

Several research firms have recently commented on TRGP. Stifel Nicolaus set a $213.00 price target on shares of Targa Resources in a research note on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $196.00 price objective on shares of Targa Resources in a report on Monday, January 12th. UBS Group reissued a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $266.00 price target on shares of Targa Resources in a research note on Wednesday, January 28th. Finally, Scotiabank reiterated an “outperform” rating and issued a $224.00 price target on shares of Targa Resources in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.50.

About Targa Resources

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.