Yousif Capital Management LLC Sells 4,125 Shares of Targa Resources, Inc. $TRGP

Yousif Capital Management LLC lessened its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,498 shares of the pipeline company’s stock after selling 4,125 shares during the period. Yousif Capital Management LLC’s holdings in Targa Resources were worth $4,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in Targa Resources during the 4th quarter worth $27,000. Peoples Financial Services CORP. bought a new position in shares of Targa Resources in the 3rd quarter valued at $34,000. Root Financial Partners LLC bought a new position in shares of Targa Resources in the 3rd quarter valued at $39,000. Avion Wealth increased its stake in shares of Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Targa Resources in the 3rd quarter valued at $47,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $243.36 on Friday. The stock has a market cap of $52.27 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.58 and a beta of 0.81. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $253.87. The stock’s 50-day moving average is $233.70 and its 200 day moving average is $194.06.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Targa Resources’s dividend payout ratio is currently 46.57%.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent research reports. Mizuho raised their price objective on Targa Resources from $207.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. BMO Capital Markets reissued an “outperform” rating and set a $241.00 price objective on shares of Targa Resources in a report on Friday, February 20th. Morgan Stanley raised their price objective on Targa Resources from $298.00 to $327.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. Finally, Citigroup raised their price objective on Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.71.

Insider Transactions at Targa Resources

In other news, insider Patrick J. Mcdonie sold 31,537 shares of Targa Resources stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the completion of the transaction, the insider directly owned 305,163 shares in the company, valued at approximately $73,043,815.68. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lindsey Cooksen sold 435 shares of Targa Resources stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total transaction of $100,798.20. Following the transaction, the director owned 11,670 shares of the company’s stock, valued at $2,704,172.40. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 104,929 shares of company stock worth $24,692,134. 1.37% of the stock is owned by insiders.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.