EverSource Wealth Advisors LLC boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP – Get Rating) by 2,222.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,045 shares of the pipeline company's stock after acquiring an additional 1,000 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Targa Resources were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TRGP. Wellington Management Group LLP boosted its holdings in Targa Resources by 424.5% during the 1st quarter. Wellington Management Group LLP now owns 3,777,797 shares of the pipeline company's stock valued at $285,110,000 after acquiring an additional 3,057,486 shares during the period. BlackRock Inc. lifted its holdings in Targa Resources by 7.3% in the 4th quarter. BlackRock Inc. now owns 21,959,815 shares of the pipeline company's stock worth $1,147,183,000 after buying an additional 1,499,300 shares during the period. State Street Corp lifted its holdings in Targa Resources by 14.4% in the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company's stock worth $591,455,000 after buying an additional 986,283 shares during the period. CI Investments Inc. lifted its holdings in Targa Resources by 4,238.9% in the 1st quarter. CI Investments Inc. now owns 799,615 shares of the pipeline company's stock worth $60,347,000 after buying an additional 781,186 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Targa Resources by 114.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,179,991 shares of the pipeline company's stock worth $89,054,000 after buying an additional 630,766 shares during the period. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Regina Gregory sold 6,494 shares of the firm's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $67.39, for a total transaction of $437,630.66. Following the sale, the insider now directly owns 55,592 shares of the company's stock, valued at $3,746,344.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Targa Resources Price Performance

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, July 28th. This represents a $1.40 annualized dividend and a yield of 2.04%. Targa Resources's dividend payout ratio (DPR) is presently 159.09%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Targa Resources from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 12th. US Capital Advisors reissued a "buy" rating on shares of Targa Resources in a research report on Monday, July 25th. Barclays decreased their target price on Targa Resources from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, July 20th. Morgan Stanley raised their price objective on Targa Resources from $103.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 20th. Finally, Mizuho raised their price objective on Targa Resources from $87.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources presently has an average rating of "Buy" and an average target price of $82.83.

About Targa Resources

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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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages 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.

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