Targa Resources Corp. (NYSE:TRGP) Holdings Lifted by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC grew its position in Targa Resources Corp. (NYSE:TRGP) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,738 shares of the pipeline company’s stock after purchasing an additional 520 shares during the period. Smartleaf Asset Management LLC’s holdings in Targa Resources were worth $487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aspect Partners LLC grew its position in Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Targa Resources in the 3rd quarter worth about $35,000. Rosenberg Matthew Hamilton grew its position in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Targa Resources in the 4th quarter worth about $49,000. Finally, UMB Bank n.a. grew its position in Targa Resources by 39.6% in the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Targa Resources from $220.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial reduced 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. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $207.00.

Targa Resources Stock Down 3.1 %

TRGP stock opened at $195.49 on Tuesday. Targa Resources Corp. has a 12 month low of $99.04 and a 12 month high of $218.51. The firm has a market cap of $42.64 billion, a PE ratio of 34.06, a P/E/G ratio of 0.61 and a beta of 2.29. The firm has a 50 day simple moving average of $198.29 and a 200 day simple moving average of $179.02. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.53%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Activity at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $16,206,024.70. This represents a 29.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by corporate insiders.

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.