Rosenberg Matthew Hamilton Buys 89 Shares of Targa Resources Corp. (NYSE:TRGP)

Rosenberg Matthew Hamilton lifted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 49.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 269 shares of the pipeline company’s stock after acquiring an additional 89 shares during the period. Rosenberg Matthew Hamilton’s holdings in Targa Resources were worth $48,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Targa Resources by 1.7% during the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after acquiring an additional 97,583 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Targa Resources by 13.4% during 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 acquiring an additional 271,444 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after buying an additional 14,287 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Targa Resources by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after buying an additional 96,268 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Targa Resources

In related 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 value of $621,812.40. Following the completion of the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group boosted their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America assumed coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 price target on the stock. Truist Financial reduced their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. The Goldman Sachs Group boosted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company upped their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources Trading Up 1.9 %

Shares of TRGP stock opened at $205.25 on Thursday. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The firm has a fifty day moving average price of $190.21 and a 200-day moving average price of $162.26. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 0.73 and a beta of 2.30. 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 posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter last year, the company earned $0.97 earnings per share. As a group, equities analysts predict that Targa Resources Corp. will post 6.26 earnings per share for the current year.

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.