Diversified Trust Co Invests $728,000 in Targa Resources Corp. (NYSE:TRGP)

Diversified Trust Co purchased a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,917 shares of the pipeline company's stock, valued at approximately $728,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Targa Resources in the 2nd quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Targa Resources in the second quarter valued at approximately $44,000. Register Financial Advisors LLC acquired a new position in shares of Targa Resources in the first quarter valued at approximately $45,000. Finally, Quarry LP acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $50,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, August 13th. Scotiabank upped their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a "sector outperform" rating in a report on Wednesday, July 17th. Argus upgraded shares of Targa Resources to a "strong-buy" rating in a report on Tuesday, September 3rd. Barclays upped their target price on shares of Targa Resources from $123.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, July 3rd. Finally, Truist Financial upped their price target on shares of Targa Resources from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources presently has an average rating of "Buy" and a consensus target price of $141.77.

Insider Activity at Targa Resources

In related news, Director Paul W. Chung sold 916 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total value of $124,896.60. Following the sale, the director now directly owns 238,591 shares of the company's stock, valued at approximately $32,531,882.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Targa Resources news, Director Paul W. Chung sold 916 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total transaction of $124,896.60. Following the sale, the director now directly owns 238,591 shares of the company's stock, valued at $32,531,882.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now directly owns 110,470 shares in the company, valued at $17,181,399.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,534 shares of company stock valued at $26,815,021. Insiders own 1.39% of the company's stock.

Targa Resources Price Performance

Shares of TRGP traded down $0.88 during trading hours on Thursday, reaching $162.52. The company had a trading volume of 1,301,316 shares, compared to its average volume of 1,651,803. The firm has a 50 day simple moving average of $146.18 and a 200-day simple moving average of $129.76. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.25 and a beta of 2.25. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $163.71.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter last year, the firm posted $1.44 EPS. Research analysts expect that Targa Resources Corp. will post 5.9 earnings per share for the current year.

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.