1,308 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Capital Wealth Planning LLC

Capital Wealth Planning LLC acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,308 shares of the pipeline company's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. increased its position in Targa Resources by 0.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock worth $1,153,000 after purchasing an additional 66 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after buying an additional 67 shares during the period. Mather Group LLC. increased its holdings in shares of Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after buying an additional 68 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock worth $321,000 after buying an additional 84 shares during the period. Finally, Catalina Capital Group LLC boosted its holdings in Targa Resources by 3.9% in the fourth quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock valued at $400,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Insiders Place Their Bets

In related news, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction dated 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 sale, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada upped their price target on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research note on Monday. Stifel Nicolaus raised their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Citigroup lifted their price target on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Barclays increased their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Finally, Truist Financial reduced their target price on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has an average rating of "Buy" and an average target price of $207.00.

Targa Resources Stock Down 1.8 %

TRGP traded down $3.34 on Wednesday, reaching $186.67. The company's stock had a trading volume of 2,375,761 shares, compared to its average volume of 1,635,470. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1 year low of $103.04 and a 1 year high of $218.51. The business's 50 day moving average is $198.48 and its 200 day moving average is $179.36.

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

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is 52.26%.

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.