Targa Resources (NYSE:TRGP) Director Charles Crisp Sells 10,602 Shares

Targa Resources, Inc. (NYSE:TRGP) Director Charles Crisp sold 10,602 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the completion of the transaction, the director directly owned 66,492 shares in the company, valued at $17,019,292.32. The trade was a 13.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Targa Resources Price Performance

Targa Resources stock opened at $263.12 on Thursday. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $263.38. The stock’s 50 day moving average is $243.75 and its 200-day moving average is $207.11. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64. The company has a market capitalization of $56.48 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.65 and a beta of 0.75.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.68 billion. Equities research analysts expect that Targa Resources, Inc. will post 10.3 EPS for the current year.

Targa Resources Increases Dividend

The business also recently declared 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. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 30th. Targa Resources’s dividend payout ratio (DPR) is currently 50.56%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TRGP shares. Citigroup increased their price target on 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 set a $268.00 price target on Targa Resources in a research report on Friday, May 8th. Morgan Stanley increased their price target on Targa Resources from $327.00 to $331.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays reissued an “overweight” rating on shares of Targa Resources in a research report on Thursday. Finally, UBS Group increased their price target on Targa Resources from $228.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.86.

Institutional Investors Weigh In On Targa Resources

A number of large investors have recently modified their holdings of the business. Hardy Reed LLC boosted its holdings in shares of Targa Resources by 1.0% in the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock valued at $1,083,000 after purchasing an additional 41 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Targa Resources by 10.5% in the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after purchasing an additional 50 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Targa Resources by 0.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock valued at $1,376,000 after purchasing an additional 51 shares in the last quarter. First Horizon Corp boosted its holdings in shares of Targa Resources by 20.1% in the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Targa Resources by 4.1% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds 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.