Candriam S.C.A. Purchases 4,764 Shares of Targa Resources Corp. (NYSE:TRGP)

Candriam S.C.A. grew its position in Targa Resources Corp. (NYSE:TRGP) by 20.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,054 shares of the pipeline company’s stock after acquiring an additional 4,764 shares during the period. Candriam S.C.A.’s holdings in Targa Resources were worth $5,008,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in Targa Resources by 0.9% in the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares during the period. Fisher Asset Management LLC increased its holdings in Targa Resources by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 67 shares during the period. Mather Group LLC. increased its holdings in Targa Resources by 2.3% in the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares during the period. Keybank National Association OH increased its holdings in Targa Resources by 0.4% in the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its holdings in Targa Resources by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 84 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Insider Activity at Targa Resources

In related news, CEO Matthew J. Meloy sold 48,837 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is owned by corporate insiders.

Targa Resources Price Performance

TRGP stock opened at $181.93 on Friday. The stock has a market capitalization of $39.68 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company’s 50-day moving average is $198.77 and its 200-day moving average is $179.95. 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 Corp. has a 1 year low of $103.18 and a 1 year high of $218.51.

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

Targa Resources Announces Dividend

The firm 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 of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.65%. Targa Resources’s payout ratio is 52.26%.

Analyst Ratings Changes

TRGP has been the subject of a number of recent research reports. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Truist Financial decreased their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Citigroup increased their price target on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Mizuho increased their price target on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $206.43.

About Targa Resources

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.