D. Scott Pryor sells 20,000 shares of Targa Resources Corp. (NYSE: TRGP)
Insider D. Scott Pryor of Targa Resources Corp. (NYSE:TRGP – Get Rating) sold 20,000 shares of Targa Resources in a trade that took place on Wednesday, May 18. The shares were sold at an average price of $71.33, for a total transaction of $1,426,600.00. Following the transaction, the insider now directly owns 81,233 shares of the company, valued at $5,794,349.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website.
NYSE TRGP traded at $0.53 during Friday trading hours, hitting $69.44. 1,902,839 shares of the company were traded, compared to its average volume of 1,723,794. Targa Resources Corp. has a 52-week low of $37.13 and a 52-week high of $81.50. The company has a market capitalization of $15.83 billion, a PE ratio of -118.81 and a beta of 2.52. The company has a debt ratio of 1.73, a current ratio of 0.65 and a quick ratio of 0.62. The company’s 50-day moving average is $73.72 and its 200-day moving average is $62.95.
Targa Resources (NYSE:TRGP – Get Rating) last reported quarterly earnings data on Thursday, May 5. The pipeline company reported earnings per share (EPS) of $0.06 for the quarter, missing the consensus estimate of $0.75 per ($0.69). Targa Resources posted a negative net margin of 0.22% and a positive return on equity of 8.24%. In the same quarter a year earlier, the company posted EPS of $0.53. Equity research analysts predict that Targa Resources Corp. will post earnings per share of 3.8 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, April 29 received a dividend of $0.35. This represents an annualized dividend of $1.40 and a dividend yield of 2.02%. Targa Resources’ dividend payout ratio is currently -241.38%.
Several equity analysts have published reports on the stock. Morgan Stanley raised its price target on shares of Targa Resources from $74.00 to $103.00 and gave the stock an “overweight” rating in a Tuesday, April 26 report. TheStreet downgraded shares of Targa Resources from a “b-” rating to a “c” rating in a Thursday, March 3 research note. Barclays raised its price target on Targa Resources shares from $66.00 to $72.00 and gave the stock an “overweight” rating in a Thursday, January 20 research note. Truist Financial raised its price target on shares of Targa Resources from $69.00 to $78.00 in a Wednesday, March 2 research note. Finally, Evercore ISI upgraded shares of Targa Resources from an “in-line” rating to an “outperforming” rating and set a price target of $62.00 for the company in a Monday, February 7, report. Two research analysts gave the stock a hold rating, ten gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, Targa Resources has an average rating of “Buy” and a consensus target price of $74.42.
Several hedge funds have recently changed their TRGP holdings. Zullo Investment Group Inc. acquired a new position in shares of Targa Resources in Q4 worth approximately $25,000. Capital Advisors Ltd. LLC acquired a new position in shares of Targa Resources in Q4 worth approximately $26,000. Chilton Capital Management LLC acquired a new position in shares of Targa Resources in Q4 worth approximately $27,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of Targa Resources in Q4 worth approximately $29,000. Finally, Herold Advisors Inc. acquired a new stake in Targa Resources during the 1st quarter at a value of approximately $29,000. Hedge funds and other institutional investors hold 91.93% of the company’s shares.
About Targa Resources (Get a rating)
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires and develops a portfolio of midstream energy assets in North America. It operates in two segments, Collection and Processing, and Logistics and Transportation. The company is engaged in the gathering, compression, treatment, treatment, transportation and sale of natural gas; storage, fractionation, processing, transportation and sale of natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; and the gathering, purchase, storage, terminaling and sale of crude oil.
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