Entropy Technologies LP Grows Holdings in Targa Resources Corp. (NYSE:TRGP)

Entropy Technologies LP raised its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 78.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,425 shares of the pipeline company's stock after purchasing an additional 16,836 shares during the period. Targa Resources comprises approximately 0.6% of Entropy Technologies LP's portfolio, making the stock its 25th biggest holding. Entropy Technologies LP's holdings in Targa Resources were worth $5,687,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Targa Resources by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company's stock worth $3,025,521,000 after acquiring an additional 201,817 shares in the last quarter. Blackstone Inc. lifted its position in shares of Targa Resources by 2.7% in the first quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company's stock worth $1,085,794,000 after buying an additional 252,729 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company's stock worth $296,647,000 after purchasing an additional 271,444 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Targa Resources by 26.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,721 shares of the pipeline company's stock worth $194,720,000 after purchasing an additional 360,675 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Targa Resources by 5.9% in the 2nd quarter. Truist Financial Corp now owns 838,714 shares of the pipeline company's stock valued at $108,010,000 after acquiring an additional 46,864 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insiders Place Their Bets

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares of the company's stock, valued at $25,504,736.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Joe Bob Perkins sold 150,000 shares of the business's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now owns 110,470 shares in the company, valued at approximately $17,181,399.10. 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 Robert Muraro sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $25,504,736.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,760 shares of company stock valued at $30,026,712 in the last quarter. 1.39% of the stock is currently owned by company insiders.

Targa Resources Price Performance

Shares of Targa Resources stock traded down $0.65 on Tuesday, hitting $194.31. 1,081,338 shares of the company were exchanged, compared to its average volume of 1,651,372. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $197.14. The stock has a market capitalization of $42.37 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 1.49 and a beta of 2.24. The company has a 50-day moving average price of $159.88 and a 200 day moving average price of $138.94. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, sell-side analysts predict that Targa Resources Corp. will post 6.19 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources's dividend payout ratio is presently 54.25%.

Analyst Upgrades and Downgrades

TRGP has been the topic of several research reports. Truist Financial upped their price target on shares of Targa Resources from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Barclays increased their target price on Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research note on Monday. Bank of America started coverage on shares of Targa Resources in a research note on Thursday, October 17th. They issued a "buy" rating and a $182.00 target price for the company. Finally, Morgan Stanley lifted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus 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.