Counterpoint Mutual Funds LLC Increases Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Counterpoint Mutual Funds LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,955 shares of the pipeline company's stock after purchasing an additional 1,701 shares during the quarter. Targa Resources makes up about 0.2% of Counterpoint Mutual Funds LLC's investment portfolio, making the stock its 26th largest position. Counterpoint Mutual Funds LLC's holdings in Targa Resources were worth $1,777,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TRGP. Wellington Management Group LLP lifted its holdings in Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock worth $2,235,927,000 after buying an additional 633,589 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Targa Resources by 1.7% in the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company's stock valued at $843,680,000 after acquiring an additional 97,583 shares during the last quarter. Amundi increased its position in Targa Resources by 20.9% in the fourth quarter. Amundi now owns 1,841,175 shares of the pipeline company's stock worth $353,469,000 after purchasing an additional 318,261 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Targa Resources by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company's stock worth $261,344,000 after purchasing an additional 38,723 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $197,076,000 after purchasing an additional 14,287 shares during the last quarter. Institutional investors own 92.13% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRGP shares. Scotiabank lowered their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company raised their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Truist Financial upped their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays raised their price target on Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Royal Bank of Canada increased their target price on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $211.00.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is currently owned by corporate insiders.

Targa Resources Stock Performance

Shares of Targa Resources stock traded down $2.27 during trading on Friday, hitting $197.25. 2,054,808 shares of the stock were exchanged, compared to its average volume of 1,576,867. Targa Resources Corp. has a 1-year low of $109.13 and a 1-year high of $218.51. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company has a fifty day moving average price of $199.70 and a 200-day moving average price of $182.53. 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 released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources's payout ratio is 52.26%.

About Targa Resources

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.