Virtu Financial LLC Has $1.25 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Virtu Financial LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 39.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,447 shares of the pipeline company’s stock after acquiring an additional 2,388 shares during the period. Virtu Financial LLC’s holdings in Targa Resources were worth $1,250,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in Targa Resources by 8.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,050 shares of the pipeline company’s stock valued at $1,552,000 after purchasing an additional 968 shares during the period. Blue Trust Inc. raised its position in shares of Targa Resources by 18.0% during the second quarter. Blue Trust Inc. now owns 1,491 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 227 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of Targa Resources by 7.1% in the second quarter. Values First Advisors Inc. now owns 3,914 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 259 shares during the period. Chapin Davis Inc. bought a new stake in Targa Resources in the second quarter valued at approximately $318,000. Finally, Pallas Capital Advisors LLC increased its position in Targa Resources by 2.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 29,975 shares of the pipeline company’s stock valued at $4,082,000 after purchasing an additional 592 shares during the period. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the transaction, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,260 shares of company stock valued at $29,661,212. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRGP. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada increased their price target on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Stifel Nicolaus raised their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $176.50.

Targa Resources Price Performance

Shares of TRGP opened at $185.60 on Friday. The stock has a market cap of $40.47 billion, a P/E ratio of 33.56, a P/E/G ratio of 0.74 and a beta of 2.28. The business’s fifty day moving average is $180.92 and its 200 day moving average is $151.53. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $209.87.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period last year, the company earned $0.97 earnings per share. Sell-side analysts anticipate that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

About Targa Resources

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.