Visionary Horizons LLC decreased its stake in Targa Resources Corp. (NYSE:TRGP – Free Report) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,574 shares of the pipeline company’s stock after selling 512 shares during the period. Visionary Horizons LLC’s holdings in Targa Resources were worth $677,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in TRGP. Buckley Wealth Management LLC raised its position in shares of Targa Resources by 0.7% in the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Targa Resources by 9.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock valued at $138,000 after purchasing an additional 83 shares during the period. Fifth Third Bancorp grew its stake in Targa Resources by 1.0% during the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock valued at $1,148,000 after acquiring an additional 89 shares in the last quarter. Catalina Capital Group LLC grew its stake in Targa Resources by 3.4% during the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 99 shares in the last quarter. Finally, &PARTNERS grew its stake in Targa Resources by 1.1% during the second quarter. &PARTNERS now owns 10,107 shares of the pipeline company’s stock valued at $1,302,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.
Targa Resources Price Performance
TRGP stock opened at $165.27 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.65 and a quick ratio of 0.53. Targa Resources Corp. has a one year low of $81.03 and a one year high of $169.92. The stock has a market cap of $36.21 billion, a PE ratio of 34.79, a P/E/G ratio of 1.29 and a beta of 2.24. The firm has a 50 day simple moving average of $155.23 and a two-hundred day simple moving average of $135.67.
Targa Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.82%. Targa Resources’s dividend payout ratio (DPR) is 63.16%.
Analysts Set New Price Targets
TRGP has been the subject of several recent analyst reports. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Truist Financial boosted their price objective on shares of Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $152.79.
Check Out Our Latest Research Report on Targa Resources
Insider Activity
In related news, Director Paul W. Chung sold 916 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total transaction of $124,896.60. Following the completion of the sale, the director now directly owns 238,591 shares in the company, valued at $32,531,882.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Targa Resources news, Director Paul W. Chung sold 916 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total value of $124,896.60. Following the completion of the transaction, the director now directly owns 238,591 shares in the company, valued at approximately $32,531,882.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Muraro sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,534 shares of company stock valued at $26,815,021. Corporate insiders own 1.39% of the company’s stock.
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.
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