Carl Stuart Investment Advisor Inc. Invests $240,000 in Targa Resources Corp. (NYSE:TRGP)

Carl Stuart Investment Advisor Inc. bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,345 shares of the pipeline company’s stock, valued at approximately $240,000. Targa Resources comprises approximately 0.1% of Carl Stuart Investment Advisor Inc.’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. increased its stake in shares of Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after buying an additional 146 shares during the period. Prospera Private Wealth LLC purchased a new position in Targa Resources in the third quarter valued at about $35,000. Aspect Partners LLC grew its stake in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Targa Resources in the fourth quarter valued at about $49,000. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group lifted their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Scotiabank lowered their price target on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Mizuho raised their price target on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. One 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $206.43.

Insider Buying and Selling at Targa Resources

In other news, insider D. Scott Pryor sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. The trade was a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.44% of the stock is owned by company insiders.

Targa Resources Trading Up 3.3 %

Targa Resources stock opened at $187.14 on Thursday. 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 52 week low of $104.89 and a 52 week high of $218.51. The company has a market capitalization of $40.82 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The stock has a 50-day moving average price of $199.00 and a 200 day moving average price of $180.77.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s payout ratio is presently 52.26%.

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.