RFG Holdings Inc. Invests $207,000 in Targa Resources Corp. (NYSE:TRGP)

RFG Holdings Inc. purchased a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,162 shares of the pipeline company’s stock, valued at approximately $207,000.

A number of other large investors have also recently added to or reduced their stakes in the business. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the third quarter worth $29,000. Prospera Private Wealth LLC purchased a new stake in Targa Resources during the third quarter worth about $35,000. Rosenberg Matthew Hamilton lifted its position in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 106 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 89 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Performance

Shares of TRGP opened at $199.45 on Tuesday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock has a market capitalization of $43.49 billion, a P/E ratio of 36.22, a P/E/G ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 1 year low of $84.43 and a 1 year high of $218.51. The company’s fifty day moving average is $193.19 and its two-hundred day moving average is $169.12.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $0.97 earnings per share. On average, sell-side analysts predict that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

Insider Activity

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TRGP. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Barclays increased their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group upped their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources Company Profile

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.