Targa Resources Corp. (NYSE:TRGP) Insider Robert Muraro Sells 2,500 Shares

Targa Resources Corp. (NYSE:TRGP) insider Robert Muraro sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Muraro also recently made the following trade(s):

• On Friday, June 28th, Robert Muraro sold 9,900 shares of Targa Resources stock. The shares were sold at an average price of $130.31, for a total transaction of $1,290,069.00.
• On Wednesday, June 26th, Robert Muraro sold 100 shares of Targa Resources stock. The stock was sold at an average price of $130.00, for a total transaction of $13,000.00.
• On Monday, June 10th, Robert Muraro sold 10,000 shares of Targa Resources stock. The shares were sold at an average price of $120.08, for a total transaction of $1,200,800.00.

Targa Resources Price Performance

NYSE TRGP opened at $149.75 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.16 and a beta of 2.26. The business has a 50 day simple moving average of $137.46 and a 200 day simple moving average of $121.41. Targa Resources Corp. has a 52-week low of $77.97 and a 52-week high of $152.42.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Analysts anticipate that Targa Resources Corp. will post 5.88 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, July 31st. Targa Resources’s dividend payout ratio is 61.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the 2nd quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Spire Wealth Management lifted its position in shares of Targa Resources by 2,400.0% in the first quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 264 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Targa Resources during the fourth quarter worth $42,000. Finally, Delos Wealth Advisors LLC bought a new position in Targa Resources in the fourth quarter valued at $43,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on TRGP shares. Wells Fargo & Company lifted their target price on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Morgan Stanley lifted their price objective on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Royal Bank of Canada increased their target price on Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Truist Financial boosted their target price on Targa Resources from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Argus initiated coverage on shares of Targa Resources in a research report on Wednesday, June 26th. They issued a “buy” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.54.

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.