CANADA LIFE ASSURANCE Co Has $39.41 Million Stake in Targa Resources Corp. (NYSE:TRGP)

CANADA LIFE ASSURANCE Co cut its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,995 shares of the pipeline company's stock after selling 31,150 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Targa Resources worth $39,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRGP. Atala Financial Inc bought a new position in Targa Resources during the 4th quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares during the period. Mizuho Bank Ltd. acquired a new position in Targa Resources during the fourth quarter worth about $36,000. Aspect Partners LLC raised its position in Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after acquiring an additional 89 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last quarter. Insiders own 1.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TRGP. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Morgan Stanley upped their price target on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Truist Financial lifted their target price on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Scotiabank decreased their target price on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Finally, Citigroup boosted their price target on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Targa Resources has an average rating of "Buy" and a consensus target price of $210.64.

Targa Resources Stock Up 3.1 %

NYSE:TRGP traded up $5.30 during trading hours on Thursday, reaching $177.65. The company's stock had a trading volume of 509,272 shares, compared to its average volume of 1,930,090. Targa Resources Corp. has a one year low of $110.09 and a one year high of $218.51. The business's 50-day moving average is $186.79 and its 200-day moving average is $187.63. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market cap of $38.65 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. Equities research analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is presently 69.69%.

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.