Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 717,585 shares of the pipeline company's stock after acquiring an additional 119,181 shares during the period. Russell Investments Group Ltd. owned 0.33% of Targa Resources worth $128,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TRGP. Atala Financial Inc acquired a new position in Targa Resources in the 4th quarter valued at about $31,000. Rakuten Securities Inc. increased its stake in Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after acquiring an additional 146 shares during the last quarter. Mizuho Bank Ltd. acquired a new position in shares of Targa Resources in the 4th quarter valued at $36,000. Aspect Partners LLC grew its holdings in shares of Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after purchasing an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Activity at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the transaction, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the 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 sale, 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 have sold 115,914 shares of company stock valued at $22,613,288 in the last ninety days. Insiders own 1.39% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank lowered their target price on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Barclays lowered their price objective on shares of Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research report on Wednesday. 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 note on Monday, March 3rd. Truist Financial increased their target price on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Mizuho lifted their target price on Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus target price of $210.64.

Targa Resources Stock Down 5.0 %

NYSE:TRGP traded down $8.73 during trading hours on Thursday, hitting $164.92. The company's stock had a trading volume of 1,658,196 shares, compared to its average volume of 1,716,869. Targa Resources Corp. has a 52-week low of $110.09 and a 52-week high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $35.88 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The stock has a fifty day moving average of $193.55 and a 200-day moving average of $186.73.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates 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 forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is 52.26%.

About Targa Resources

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.