1,402 Shares in Targa Resources Corp. (NYSE:TRGP) Acquired by PDS Planning Inc

PDS Planning Inc bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,402 shares of the pipeline company’s stock, valued at approximately $250,000.

Several other hedge funds also recently bought and sold shares of TRGP. Atala Financial Inc acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. grew its stake in Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 146 shares during the period. Prospera Private Wealth LLC acquired a new position in Targa Resources in the 3rd quarter valued at $35,000. Aspect Partners LLC lifted its stake in shares of Targa Resources by 144.4% during 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 period. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Targa Resources by 49.4% during the fourth 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. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value 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. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the sale, the director now owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 in the last 90 days. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Performance

Targa Resources stock opened at $198.90 on Thursday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a one year low of $108.65 and a one year high of $218.51. The stock’s 50 day moving average price is $199.54 and its 200 day moving average price is $182.41. The firm has a market capitalization of $43.38 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32.

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

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is currently 52.26%.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial increased their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Citigroup upped their price target on shares of Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $210.50.

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.