Buckley Wealth Management LLC Purchases 65 Shares of Targa Resources Corp. (NYSE:TRGP)

Buckley Wealth Management LLC raised its position in Targa Resources Corp. (NYSE:TRGP) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,925 shares of the pipeline company’s stock after acquiring an additional 65 shares during the period. Buckley Wealth Management LLC’s holdings in Targa Resources were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Targa Resources by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after buying an additional 201,817 shares in the last quarter. Blackstone Inc. raised its position in shares of Targa Resources by 2.7% in the 1st quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after purchasing an additional 252,729 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Targa Resources by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock worth $296,647,000 after purchasing an additional 271,444 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Targa Resources by 26.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,721 shares of the pipeline company’s stock worth $194,720,000 after purchasing an additional 360,675 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Targa Resources by 71.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,024,713 shares of the pipeline company’s stock worth $114,758,000 after buying an additional 428,276 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Price Performance

Shares of NYSE:TRGP traded up $0.83 during midday trading on Friday, reaching $162.75. 843,919 shares of the company’s stock traded hands, compared to its average volume of 1,647,912. The company has a fifty day simple moving average of $150.42 and a two-hundred day simple moving average of $132.29. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $167.79. The company has a market cap of $36.08 billion, a P/E ratio of 33.49, a PEG ratio of 1.32 and a beta of 2.25. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter last year, the business earned $1.44 earnings per share. Equities analysts predict that Targa Resources Corp. will post 5.9 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.84%. Targa Resources’s payout ratio is currently 61.73%.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the sale, the chief accounting officer now directly owns 52,257 shares in the company, valued at $6,898,969.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the sale, the chief accounting officer now directly owns 52,257 shares in the company, valued at $6,898,969.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now directly owns 29,603 shares in the company, valued at $4,027,784.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 175,534 shares of company stock worth $26,815,021. Corporate insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Barclays upped their target price on Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada raised their target price on shares of Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Scotiabank upped their price target on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $148.36.

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.