Targa Resources Corp. (NYSE:TRGP) Shares Sold by Sicart Associates LLC

Sicart Associates LLC reduced its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,027 shares of the pipeline company's stock after selling 1,324 shares during the quarter. Targa Resources accounts for approximately 3.4% of Sicart Associates LLC's investment portfolio, making the stock its 7th biggest holding. Sicart Associates LLC's holdings in Targa Resources were worth $9,465,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock worth $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Targa Resources in the second quarter valued at about $72,345,000. National Bank of Canada FI lifted its stake 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 worth $89,413,000 after buying an additional 259,776 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Targa Resources by 599.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company's stock worth $42,619,000 after buying an additional 246,762 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company's stock valued at $30,232,000 after buying an additional 202,822 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Activity

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by insiders.

Targa Resources Price Performance

Shares of Targa Resources stock traded up $3.05 during midday trading on Friday, hitting $216.00. 1,851,473 shares of the company traded hands, compared to its average volume of 1,554,202. The stock has a market cap of $47.10 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.59 and a beta of 2.30. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm's fifty day moving average price is $191.09 and its 200-day moving average price is $162.91. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $217.02.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the prior year, the business earned $0.97 earnings per share. As a group, sell-side analysts forecast that Targa Resources Corp. will post 6.4 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is currently 54.25%.

Wall Street Analyst Weigh In

TRGP has been the subject of several research reports. Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a "buy" rating and a $182.00 price objective for the company. Stifel Nicolaus lifted their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Royal Bank of Canada upped their price objective on Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Barclays lifted their target price on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Truist Financial decreased their price target on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has a consensus rating of "Buy" and an average target price of $189.21.

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.