Targa Resources Corp. (NYSE:TRGP) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 91.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401 shares of the pipeline company's stock after selling 4,162 shares during the period. Headlands Technologies LLC's holdings in Targa Resources were worth $72,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MML Investors Services LLC grew its position in shares of Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock valued at $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB boosted its position in shares of Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after acquiring an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock valued at $1,476,000 after purchasing an additional 5,431 shares during the period. Atomi Financial Group Inc. acquired a new position in Targa Resources during the fourth quarter worth approximately $271,000. Finally, Segment Wealth Management LLC raised its stake in Targa Resources by 2,753.4% during the fourth quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock worth $9,876,000 after purchasing an additional 53,389 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRGP. Truist Financial upped their price objective on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Barclays reduced their price objective on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research note on Wednesday. The Goldman Sachs Group increased their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Citigroup increased their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $210.64.

Targa Resources Stock Up 0.5 %

NYSE:TRGP traded up $0.84 during mid-day trading on Friday, reaching $163.27. The stock had a trading volume of 2,758,741 shares, compared to its average volume of 1,723,134. 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 capitalization of $35.52 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. The stock's 50 day simple moving average is $192.02 and its two-hundred day simple moving average is $186.83.

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

Targa Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.29%. Targa Resources's payout ratio is 52.26%.

Insiders Place Their Bets

In related news, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. The trade was a 29.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the 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 completion of the sale, the chief executive officer now directly owns 725,628 shares in the company, valued at $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 three months, insiders have sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company's stock.

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.