7,020 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Centiva Capital LP

Centiva Capital LP bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,020 shares of the pipeline company's stock, valued at approximately $1,039,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRGP. Dimensional Fund Advisors LP increased its holdings in Targa Resources by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company's stock valued at $296,647,000 after buying an additional 271,444 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Targa Resources by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company's stock valued at $197,076,000 after acquiring an additional 14,287 shares during the period. Truist Financial Corp increased its stake in shares of Targa Resources by 5.9% in the 2nd quarter. Truist Financial Corp now owns 838,714 shares of the pipeline company's stock worth $108,010,000 after purchasing an additional 46,864 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Targa Resources by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 814,296 shares of the pipeline company's stock worth $120,540,000 after purchasing an additional 22,621 shares during the period. Finally, American Century Companies Inc. lifted its position in Targa Resources by 239.1% during the second quarter. American Century Companies Inc. now owns 791,095 shares of the pipeline company's stock valued at $101,877,000 after purchasing an additional 557,832 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Down 2.0 %

TRGP stock traded down $4.04 during midday trading on Friday, reaching $194.29. 1,497,233 shares of the company traded hands, compared to its average volume of 1,651,400. The firm has a market capitalization of $42.37 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 0.78 and a beta of 2.28. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The business has a 50 day moving average of $177.83 and a 200-day moving average of $149.27. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period last year, the company earned $0.97 earnings per share. As a group, sell-side analysts expect that Targa Resources Corp. will post 6.28 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.54%. Targa Resources's payout ratio is 54.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRGP. Argus upgraded Targa Resources to a "strong-buy" rating in a research note on Tuesday, September 3rd. Barclays upped their price objective on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. UBS Group boosted their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Bank of America started coverage on Targa Resources in a research note on Thursday, October 17th. They issued a "buy" rating and a $182.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $176.50.

Insider Buying and Selling

In related news, Director Joe Bob Perkins sold 150,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now owns 110,470 shares of the company's stock, valued at $17,181,399.10. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,260 shares of company stock valued at $29,661,212 in the last ninety days. 1.39% of the stock is owned by company insiders.

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.