Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Signaturefd LLC

Signaturefd LLC raised its position in shares of Targa Resources Corp. (NYSE:TRGP) by 6.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,776 shares of the pipeline company’s stock after purchasing an additional 368 shares during the quarter. Signaturefd LLC’s holdings in Targa Resources were worth $502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC raised its position in shares of Targa Resources by 4.4% during the 3rd quarter. Ballentine Partners LLC now owns 3,370 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 142 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Targa Resources by 36.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 150 shares during the period. HB Wealth Management LLC raised its position in shares of Targa Resources by 3.3% during the 4th quarter. HB Wealth Management LLC now owns 4,970 shares of the pipeline company’s stock worth $432,000 after purchasing an additional 160 shares during the period. Ieq Capital LLC raised its position in shares of Targa Resources by 3.1% during the 3rd quarter. Ieq Capital LLC now owns 5,687 shares of the pipeline company’s stock worth $487,000 after purchasing an additional 171 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in shares of Targa Resources by 4.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 4,084 shares of the pipeline company’s stock worth $355,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRGP. Citigroup increased their price objective on Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. The Goldman Sachs Group increased their price objective on Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Royal Bank of Canada increased their price objective on Targa Resources from $106.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Truist Financial increased their price objective on Targa Resources from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays increased their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.55.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at $7,012,769.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joe Bob Perkins sold 33,405 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total value of $3,262,666.35. Following the completion of the sale, the director now owns 38,440 shares of the company’s stock, valued at $3,754,434.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the sale, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Insiders sold a total of 81,966 shares of company stock valued at $7,987,215 over the last quarter. Company insiders own 1.39% of the company’s stock.

Targa Resources Stock Performance

TRGP opened at $116.94 on Thursday. The firm has a market cap of $26.02 billion, a PE ratio of 31.86 and a beta of 2.21. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. The business has a fifty day simple moving average of $107.48 and a 200-day simple moving average of $93.51. Targa Resources Corp. has a fifty-two week low of $67.36 and a fifty-two week high of $117.61.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.26). The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. As a group, equities analysts predict that Targa Resources Corp. will post 5.77 EPS for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio is presently 54.50%.

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.