American Century Companies Inc. Has $173.91 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

American Century Companies Inc. lifted its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 974,288 shares of the pipeline company's stock after buying an additional 63,548 shares during the period. American Century Companies Inc. owned approximately 0.45% of Targa Resources worth $173,911,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TRGP. Natixis Advisors LLC grew its stake in shares of Targa Resources by 81.0% in the 3rd quarter. Natixis Advisors LLC now owns 45,818 shares of the pipeline company's stock worth $6,782,000 after purchasing an additional 20,501 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Targa Resources by 51.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,106 shares of the pipeline company's stock valued at $2,087,000 after acquiring an additional 4,769 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Targa Resources during the 3rd quarter worth $1,175,000. Avior Wealth Management LLC lifted its holdings in shares of Targa Resources by 76.7% during the third quarter. Avior Wealth Management LLC now owns 2,361 shares of the pipeline company's stock valued at $349,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Targa Resources in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley lifted their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Citigroup increased their target price on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Royal Bank of Canada raised their price objective on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One 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 stock. According to data from MarketBeat.com, Targa Resources currently has an average rating of "Buy" and an average target price of $211.00.

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Insider Activity at Targa Resources

In other Targa Resources 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 sale, the insider now directly owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now directly owns 2,899 shares of the company's stock, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Performance

TRGP stock traded down $3.07 on Thursday, reaching $198.97. 1,267,513 shares of the company were exchanged, compared to its average volume of 1,567,462. 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 firm has a market capitalization of $43.40 billion, a PE ratio of 34.66, a PEG ratio of 0.61 and a beta of 2.32. The stock's fifty day moving average price is $199.95 and its 200 day moving average price is $184.28. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51.

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

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio is presently 52.26%.

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.