230,935 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 230,935 shares of the pipeline company's stock, valued at approximately $41,222,000. Proficio Capital Partners LLC owned 0.11% of Targa Resources as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Prospera Private Wealth LLC bought a new position in shares of Targa Resources during the 3rd quarter valued at about $35,000. Aspect Partners LLC lifted its position in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after buying an additional 130 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after buying an additional 89 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Targa Resources during the 4th quarter valued at approximately $49,000. Finally, UMB Bank n.a. boosted its position in shares of Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company's stock valued at $67,000 after acquiring an additional 106 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources 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 in the company, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of 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. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 over the last 90 days. Insiders own 1.39% of the company's stock.

Targa Resources Stock Down 1.5 %

NYSE TRGP traded down $2.98 during trading on Tuesday, hitting $192.70. The company's stock had a trading volume of 1,620,461 shares, compared to its average volume of 1,590,128. Targa Resources Corp. has a fifty-two week low of $100.30 and a fifty-two week high of $218.51. The company has a market cap of $42.03 billion, a PE ratio of 33.51, a P/E/G ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The business's 50 day simple moving average is $198.29 and its 200-day simple moving average is $179.02.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. 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 1.56%. Targa Resources's payout ratio is currently 52.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho increased their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Scotiabank initiated coverage on Targa Resources in a report on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 price target for the company. The Goldman Sachs Group increased their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Truist Financial decreased their target price on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $207.00.

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.