Advisor Resource Council Invests $675,000 in Targa Resources Corp. (NYSE:TRGP)

Advisor Resource Council bought a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,558 shares of the pipeline company's stock, valued at approximately $675,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Targa Resources during the second quarter worth $29,000. DT Investment Partners LLC bought a new stake in Targa Resources during the third quarter worth $29,000. UMB Bank n.a. lifted its stake in shares of Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Targa Resources in the 2nd quarter valued at $44,000. Finally, Rogco LP bought a new position in shares of Targa Resources in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Activity at Targa Resources

In other news, insider Gerald R. Shrader sold 3,000 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now owns 29,603 shares of the company's stock, valued at approximately $4,027,784.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the transaction, the insider now owns 174,451 shares of the company's stock, valued at $25,504,736.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald R. Shrader sold 3,000 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the transaction, the insider now directly owns 29,603 shares in the company, valued at $4,027,784.18. 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 ninety days, insiders sold 160,764 shares of company stock worth $24,829,770. Corporate insiders own 1.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TRGP. Scotiabank increased their price target on Targa Resources from $128.00 to $142.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 17th. Truist Financial raised their target price on Targa Resources from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on Targa Resources from $153.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Barclays raised their target price on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $157.21.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded up $1.75 during mid-day trading on Thursday, reaching $187.79. The company had a trading volume of 1,210,798 shares, compared to its average volume of 1,652,460. Targa Resources Corp. has a one year low of $81.03 and a one year high of $189.62. The firm has a market cap of $41.14 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 1.31 and a beta of 2.24. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The company's 50-day moving average price is $158.01 and its 200-day moving average price is $137.54.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.97 EPS. As a group, equities research analysts anticipate that Targa Resources Corp. will post 5.96 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 yield of 1.60%. Targa Resources's dividend payout ratio is 63.16%.

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.