Banco Santander S.A. Sells 1,049 Shares of Targa Resources Corp. (NYSE:TRGP)

Banco Santander S.A. cut its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,641 shares of the pipeline company’s stock after selling 1,049 shares during the period. Banco Santander S.A.’s holdings in Targa Resources were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRGP. Price T Rowe Associates Inc. MD increased its position in shares of Targa Resources by 231.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock worth $119,712,000 after acquiring an additional 962,073 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in Targa Resources by 287.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 45,700 shares of the pipeline company’s stock worth $5,118,000 after purchasing an additional 33,900 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Targa Resources by 8.5% in the 4th quarter. Ieq Capital LLC now owns 6,169 shares of the pipeline company’s stock valued at $536,000 after purchasing an additional 482 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Targa Resources by 160.3% in the first quarter. BNP Paribas Financial Markets now owns 290,080 shares of the pipeline company’s stock valued at $32,486,000 after purchasing an additional 178,655 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Targa Resources during the first quarter worth about $1,910,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial boosted their price objective on shares of Targa Resources from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Morgan Stanley raised their target price on shares of Targa Resources from $134.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. The Goldman Sachs Group boosted their price target on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Mizuho raised their price objective on Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.15.

Targa Resources Stock Performance

TRGP traded up $0.20 during trading hours on Friday, reaching $136.37. The company’s stock had a trading volume of 1,552,763 shares, compared to its average volume of 1,375,025. The company’s 50-day moving average is $123.83 and its 200-day moving average is $108.94. Targa Resources Corp. has a 52 week low of $77.97 and a 52 week high of $136.88. The firm has a market cap of $30.24 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 0.79 and a beta of 2.27. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.62 and a current ratio of 0.70.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.13). The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.28 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. On average, equities analysts forecast that Targa Resources Corp. will post 5.38 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $0.75 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $3.00 annualized dividend and a yield of 2.20%. Targa Resources’s dividend payout ratio is currently 61.73%.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 2,691 shares of Targa Resources stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at approximately $6,466,764. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Charles R. Crisp sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total transaction of $787,780.00. Following the transaction, the director now directly owns 95,471 shares of the company’s stock, valued at $10,744,306.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total value of $304,083.00. Following the completion of the sale, the chief accounting officer now owns 57,228 shares of the company’s stock, valued at $6,466,764. The disclosure for this sale can be found here. Insiders sold 52,691 shares of company stock worth $6,197,632 over the last three months. Insiders own 1.39% of the company’s stock.

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.