Skylands Capital LLC Boosts Position in Targa Resources Corp. (NYSE:TRGP)

Skylands Capital LLC raised its position in Targa Resources Corp. (NYSE:TRGP) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,200 shares of the pipeline company’s stock after acquiring an additional 2,200 shares during the quarter. Skylands Capital LLC’s holdings in Targa Resources were worth $2,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Addison Advisors LLC bought a new position in shares of Targa Resources in the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC boosted its stake in shares of Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 209 shares during the last quarter. Rational Advisors LLC purchased a new position in shares of Targa Resources during the 3rd quarter worth $43,000. Huntington National Bank grew its position in shares of Targa Resources by 124.4% during the 3rd quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 296 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Targa Resources by 36.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 150 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Targa Resources

In other news, Director Joe Bob Perkins sold 33,405 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the transaction, the director now owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Targa Resources news, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the sale, the director now directly owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jennifer R. Kneale sold 26,061 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.36, for a total transaction of $2,537,298.96. Following the transaction, the chief financial officer now owns 227,663 shares in the company, valued at $22,165,269.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is owned by corporate insiders.

Targa Resources Price Performance

NYSE TRGP traded up $0.84 on Monday, reaching $116.95. The company had a trading volume of 594,000 shares, compared to its average volume of 1,717,944. The stock has a market capitalization of $26.03 billion, a PE ratio of 31.85 and a beta of 2.21. Targa Resources Corp. has a 12 month low of $67.36 and a 12 month high of $117.87. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. The firm’s 50 day moving average price is $108.36 and its 200 day moving average price is $94.04.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. As a group, equities analysts predict that Targa Resources Corp. will post 5.8 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.75 per share. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources’s dividend payout ratio is currently 54.50%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Citigroup boosted their price objective on Targa Resources from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, UBS Group reduced their price objective on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.55.

Targa Resources 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.