1,402 Shares in Targa Resources Corp. (NYSE:TRGP) Acquired by PDS Planning Inc

PDS Planning Inc purchased a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,402 shares of the pipeline company's stock, valued at approximately $250,000.

Several other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Targa Resources in the 4th quarter valued at about $150,372,000. Wellington Management Group LLP boosted its stake in Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock valued at $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. Amundi grew its holdings in Targa Resources by 20.9% during the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company's stock worth $353,469,000 after acquiring an additional 318,261 shares during the period. National Bank of Canada FI raised its position in shares of Targa Resources by 75.4% during the 3rd quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock valued at $89,413,000 after acquiring an additional 259,776 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Targa Resources by 40.0% in the 4th quarter. Allianz Asset Management GmbH now owns 890,514 shares of the pipeline company's stock valued at $158,957,000 after purchasing an additional 254,286 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

NYSE TRGP traded up $7.61 during trading on Monday, reaching $205.01. 1,259,524 shares of the company's stock were exchanged, compared to its average volume of 1,572,160. Targa Resources Corp. has a fifty-two week low of $110.09 and a fifty-two week high of $218.51. The stock has a market capitalization of $44.71 billion, a P/E ratio of 35.72, a PEG ratio of 0.61 and a beta of 2.32. The business has a 50 day moving average price of $199.77 and a 200-day moving average price of $183.36. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

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

Targa Resources Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TRGP shares. Truist Financial boosted their price objective 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. Barclays raised 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. Mizuho boosted their price objective 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. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Scotiabank cut 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. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and an average price target of $211.00.

Insider Buying and Selling

In related news, CEO Matthew J. Meloy sold 48,837 shares of the business's 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. The trade was a 6.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company's stock.

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.