Targa Resources Corp. (NYSE:TRGP) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 45.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,667 shares of the pipeline company's stock after purchasing an additional 6,461 shares during the period. Mizuho Securities USA LLC's holdings in Targa Resources were worth $3,689,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Atala Financial Inc purchased a new stake in Targa Resources in the fourth quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares during the period. Aspect Partners LLC boosted its stake 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 during the last quarter. Rosenberg Matthew Hamilton grew its holdings in Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after acquiring an additional 89 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in Targa Resources during the fourth quarter valued at approximately $49,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of analyst reports. US Capital Advisors cut shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Truist Financial lifted their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Barclays raised their target price on Targa Resources from $204.00 to $211.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Scotiabank reduced their price target on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $211.00.

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Insiders Place Their Bets

In other news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction 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 transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, the insider now owns 82,139 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. Insiders own 1.39% of the company's stock.

Targa Resources Price Performance

Shares of Targa Resources stock traded up $0.44 during trading hours on Tuesday, reaching $205.40. 632,966 shares of the company's stock were exchanged, compared to its average volume of 1,572,038. The business has a fifty day moving average of $199.93 and a two-hundred day moving average of $183.75. The company has a market capitalization of $44.80 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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 business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. As a group, research analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. 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.