Delos Wealth Advisors LLC Invests $43,000 in Targa Resources Corp. (NYSE:TRGP)

Delos Wealth Advisors LLC acquired a new stake in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500 shares of the pipeline company’s stock, valued at approximately $43,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its holdings in shares of Targa Resources by 806.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 77,484 shares of the pipeline company’s stock valued at $6,642,000 after purchasing an additional 68,939 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Targa Resources by 9.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 46,414 shares of the pipeline company’s stock worth $3,979,000 after buying an additional 4,036 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Targa Resources by 26.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 44,619 shares of the pipeline company’s stock worth $3,825,000 after buying an additional 9,303 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Targa Resources by 8.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,763 shares of the pipeline company’s stock worth $408,000 after buying an additional 357 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Targa Resources by 1.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,298 shares of the pipeline company’s stock valued at $3,111,000 after acquiring an additional 444 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total transaction of $244,150.00. Following the transaction, the chief accounting officer now owns 71,808 shares in the company, valued at approximately $7,012,769.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Targa Resources news, Director Charles R. Crisp sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total value of $787,780.00. Following the transaction, the director now owns 95,471 shares of the company’s stock, valued at $10,744,306.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at $7,012,769.28. The disclosure for this sale can be found here. Insiders have sold a total of 91,657 shares of company stock worth $9,079,078 over the last 90 days. 1.39% of the stock is currently owned by company insiders.

Targa Resources Stock Performance

Shares of Targa Resources stock traded up $1.14 during trading on Thursday, hitting $113.59. 1,209,733 shares of the company’s stock were exchanged, compared to its average volume of 1,715,394. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.62 and a current ratio of 0.70. The business has a 50-day simple moving average of $111.25 and a 200-day simple moving average of $95.59. Targa Resources Corp. has a 52-week low of $67.36 and a 52-week high of $117.87. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 23.37 and a beta of 2.19.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.50 billion. On average, research analysts forecast that Targa Resources Corp. will post 5.72 EPS for the current year.

Targa Resources Increases Dividend

The business 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 $0.75 dividend. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a dividend yield of 2.64%. Targa Resources’s dividend payout ratio (DPR) is 61.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays upped their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Stifel Nicolaus boosted their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Mizuho lifted their price target on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their price objective on Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.92.

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.