Quantum Financial Advisors LLC Sells 320 Shares of Targa Resources Corp. (NYSE:TRGP)

Quantum Financial Advisors LLC trimmed its position in Targa Resources Corp. (NYSE:TRGP) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,006 shares of the pipeline company’s stock after selling 320 shares during the period. Quantum Financial Advisors LLC’s holdings in Targa Resources were worth $537,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. DT Investment Partners LLC bought a new position in Targa Resources in the third quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources in the second quarter valued at approximately $29,000. Prospera Private Wealth LLC bought a new position in Targa Resources in the 3rd quarter valued at approximately $35,000. Rosenberg Matthew Hamilton boosted its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. Finally, Huntington National Bank boosted its position in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. UBS Group increased their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Bank of America assumed coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $189.21.

Targa Resources Trading Up 2.0 %

NYSE:TRGP opened at $197.26 on Tuesday. The firm has a fifty day simple moving average of $189.74 and a two-hundred day simple moving average of $161.75. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 0.73 and a beta of 2.30. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $0.97 EPS. Analysts expect that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Insider Activity

In other news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

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.