Targa Resources Corp. (NYSE:TRGP) Insider Sells $6,905,500.00 in Stock

Targa Resources Corp. (NYSE:TRGP - Get Free Report) insider D. Scott Pryor sold 35,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now owns 82,139 shares of the company's stock, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Targa Resources Stock Down 3.1 %

Shares of TRGP traded down $6.23 on Monday, reaching $195.49. The stock had a trading volume of 1,968,593 shares, compared to its average volume of 1,590,475. The firm has a market capitalization of $42.64 billion, a price-to-earnings ratio of 34.06, 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 quick ratio of 0.61 and a current ratio of 0.77. The company has a 50-day simple moving average of $198.29 and a 200-day simple moving average of $179.02. Targa Resources Corp. has a 12-month low of $99.04 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released its 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). The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is presently 52.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRGP. Colonial Trust Co SC increased its position in Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after buying an additional 162 shares in the last quarter. Atala Financial Inc bought a new position in Targa Resources during the 4th quarter valued at approximately $31,000. Cary Street Partners Financial LLC bought a new position in Targa Resources during the 4th quarter valued at approximately $31,000. Ameriflex Group Inc. bought a new position in Targa Resources during the 4th quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. increased its position in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRGP shares. Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 26th. Truist Financial dropped their price objective on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, December 13th. Finally, Citigroup increased their price objective on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Targa Resources presently has a consensus rating of "Buy" and a consensus price target of $207.00.

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.