Sanctuary Advisors LLC Boosts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Sanctuary Advisors LLC grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,065 shares of the pipeline company’s stock after buying an additional 1,132 shares during the period. Sanctuary Advisors LLC’s holdings in Targa Resources were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. DT Investment Partners LLC acquired a new stake in shares of Targa Resources during the 3rd quarter worth about $29,000. Prospera Private Wealth LLC purchased a new position in Targa Resources in the third quarter valued at approximately $35,000. Rosenberg Matthew Hamilton raised its holdings in 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. Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources during the 4th quarter worth approximately $49,000. Finally, UMB Bank n.a. boosted its holdings in shares of Targa Resources by 39.6% in the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after buying an additional 106 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Performance

NYSE:TRGP opened at $200.89 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 0.62 and a beta of 2.29. The firm’s fifty day moving average price is $195.58 and its 200 day moving average price is $175.41. Targa Resources Corp. has a 1-year low of $95.88 and a 1-year high of $218.51.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. On average, sell-side analysts expect that Targa Resources Corp. will post 6.36 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TRGP shares. Royal Bank of Canada lifted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Mizuho upped their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley increased their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $203.77.

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.