Natixis Advisors LLC Has $9.73 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Natixis Advisors LLC grew its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,518 shares of the pipeline company's stock after acquiring an additional 8,700 shares during the period. Natixis Advisors LLC's holdings in Targa Resources were worth $9,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Atala Financial Inc purchased a new position in shares of Targa Resources in the 4th quarter worth approximately $31,000. LBP AM SA purchased a new stake in shares of Targa Resources in the fourth quarter worth about $6,545,000. Carl Stuart Investment Advisor Inc. acquired a new stake in Targa Resources during the fourth quarter valued at $240,000. Commonwealth Equity Services LLC increased its position in shares of Targa Resources by 30.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock valued at $5,002,000 after buying an additional 6,589 shares in the last quarter. Finally, Balboa Wealth Partners acquired a new position in Targa Resources during the fourth quarter worth $273,000. 92.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRGP. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their price target on shares of Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Scotiabank reduced their price target on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Barclays lifted their price target on shares of Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, 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 report on Tuesday, March 18th. One 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 MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $211.00.

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Insider Activity at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the transaction, the insider now directly owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $16,206,024.70. The trade was a 29.88 % 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. Insiders own 1.39% of the company's stock.

Targa Resources Price Performance

Shares of TRGP traded up $0.24 during mid-day trading on Tuesday, reaching $205.20. 1,428,305 shares of the company's stock were exchanged, compared to its average volume of 1,572,038. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 0.61 and a beta of 2.32. The company has a 50-day simple moving average of $199.93 and a two-hundred day simple moving average of $183.75. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week 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.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Targa Resources's payout ratio is currently 52.26%.

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.