Marshall Wace LLP Raises Stake in Targa Resources Corp. (NYSE:TRGP)

Marshall Wace LLP raised its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 165.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,675 shares of the pipeline company's stock after buying an additional 40,326 shares during the period. Marshall Wace LLP's holdings in Targa Resources were worth $11,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Barclays PLC increased its holdings in shares of Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after acquiring an additional 168,602 shares during the period. Virtu Financial LLC lifted its holdings in shares of Targa Resources by 39.4% during the 3rd quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company's stock valued at $1,250,000 after purchasing an additional 2,388 shares during the last quarter. Fulcrum Equity Management grew its stake in Targa Resources by 7.1% during the 3rd quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company's stock worth $464,000 after buying an additional 208 shares during the last quarter. Sfmg LLC raised its stake in Targa Resources by 3.3% in the third quarter. Sfmg LLC now owns 3,131 shares of the pipeline company's stock valued at $463,000 after buying an additional 100 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Targa Resources during the 3rd quarter worth approximately $145,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction 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 sale, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. This trade 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. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRGP. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Truist Financial increased their price target on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley boosted their target price on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Barclays decreased their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Mizuho boosted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $210.64.

Targa Resources Trading Up 0.3 %

NYSE TRGP traded up $0.61 during trading on Friday, hitting $177.61. The stock had a trading volume of 1,591,327 shares, compared to its average volume of 1,732,342. The company has a market capitalization of $38.65 billion, a PE ratio of 30.94, a PEG ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a 50 day moving average price of $185.59 and a 200 day moving average price of $187.90.

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

Targa Resources Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's payout ratio is currently 69.69%.

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.