Wealth Enhancement Advisory Services LLC Purchases 158 Shares of Targa Resources Corp. (NYSE:TRGP)

Wealth Enhancement Advisory Services LLC lifted its position in Targa Resources Corp. (NYSE:TRGP) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,529 shares of the pipeline company’s stock after purchasing an additional 158 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Targa Resources were worth $2,415,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in shares of Targa Resources by 12.0% during the second quarter. Parallel Advisors LLC now owns 3,988 shares of the pipeline company’s stock valued at $514,000 after acquiring an additional 428 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Targa Resources by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,055 shares of the pipeline company’s stock valued at $1,810,000 after purchasing an additional 262 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Targa Resources by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 454,303 shares of the pipeline company’s stock worth $58,505,000 after buying an additional 18,249 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Targa Resources by 28.9% during the second quarter. Brown Brothers Harriman & Co. now owns 848 shares of the pipeline company’s stock worth $109,000 after buying an additional 190 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Targa Resources by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock valued at $296,647,000 after buying an additional 271,444 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

NYSE TRGP opened at $200.89 on Wednesday. The firm’s 50 day moving average is $190.21 and its 200-day moving average is $162.26. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $43.81 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $209.87.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.97 EPS. Equities research analysts anticipate that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Targa Resources

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays upped their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley lifted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources presently has a consensus rating of “Buy” and a consensus price target of $189.21.

About Targa Resources

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.