4,016 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,016 shares of the pipeline company's stock, valued at approximately $717,000.

A number of other large investors have also added to or reduced their stakes in TRGP. Federated Hermes Inc. increased its position in shares of Targa Resources by 83.8% during the fourth quarter. Federated Hermes Inc. now owns 462,659 shares of the pipeline company's stock valued at $82,584,000 after buying an additional 210,943 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Targa Resources in the fourth quarter worth $740,000. Russell Investments Group Ltd. lifted its position in Targa Resources by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 717,585 shares of the pipeline company's stock valued at $128,075,000 after acquiring an additional 119,181 shares in the last quarter. Mizuho Bank Ltd. purchased a new position in shares of Targa Resources in the fourth quarter worth $36,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Targa Resources in the 4th quarter worth about $12,389,000. Institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRGP shares. Citigroup boosted their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Morgan Stanley upped their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Royal Bank of Canada upped their price target on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price objective on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group increased their price target on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $210.64.

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Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was 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 in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were 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 directly owns 725,628 shares in the company, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.39% of the company's stock.

Targa Resources Stock Up 0.5 %

Shares of NYSE TRGP traded up $0.84 during midday trading on Friday, reaching $163.27. 2,758,741 shares of the company's stock traded hands, compared to its average volume of 1,723,134. The company has a market cap of $35.52 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a one year low of $110.09 and a one year 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 stock's 50 day simple moving average is $192.02 and its 200-day simple moving average is $186.83.

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

Targa Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.29%. Targa Resources's dividend payout ratio (DPR) is presently 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.