Aigen Investment Management LP Purchases New Shares in Targa Resources Corp. (NYSE:TRGP)

Aigen Investment Management LP purchased a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,565 shares of the pipeline company's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources during the second quarter valued at approximately $29,000. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the third quarter worth about $29,000. UMB Bank n.a. raised its stake in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Targa Resources during the 2nd quarter valued at $44,000. Finally, EdgeRock Capital LLC bought a new position in Targa Resources in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares of the company's stock, valued at $15,793,393.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Robert Muraro sold 2,500 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 185,760 shares of company stock valued at $30,026,712. Company insiders own 1.39% of the company's stock.

Targa Resources Price Performance

Shares of Targa Resources stock traded down $1.44 during trading hours on Thursday, reaching $191.56. The stock had a trading volume of 880,874 shares, compared to its average volume of 1,647,102. The stock's 50 day moving average is $161.69 and its 200 day moving average is $139.86. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $197.14. The firm has a market capitalization of $41.77 billion, a PE ratio of 34.65, a PEG ratio of 0.78 and a beta of 2.24. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the firm earned $0.97 EPS. Equities analysts expect that Targa Resources Corp. will post 6.19 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued 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 1.57%. Targa Resources's dividend payout ratio (DPR) is 54.25%.

Analyst Ratings Changes

TRGP has been the topic of several research reports. Truist Financial boosted their price target on Targa Resources from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Scotiabank boosted their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a "sector outperform" rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company boosted their price objective on Targa Resources from $153.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average price target of $159.14.

Targa Resources 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.