Targa Resources Corp. (NYSE:TRGP) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI boosted its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 75.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 604,112 shares of the pipeline company's stock after acquiring an additional 259,776 shares during the quarter. National Bank of Canada FI owned about 0.28% of Targa Resources worth $89,413,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Buckley Wealth Management LLC increased its position in shares of Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock worth $1,469,000 after acquiring an additional 65 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company's stock worth $138,000 after purchasing an additional 83 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock valued at $321,000 after purchasing an additional 84 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Targa Resources by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company's stock valued at $1,148,000 after purchasing an additional 89 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock valued at $71,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,260 shares of company stock valued at $29,661,212 in the last three months. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America began coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a "buy" rating and a $182.00 price target on the stock. Argus upgraded shares of Targa Resources to a "strong-buy" rating in a research note on Tuesday, September 3rd. UBS Group increased their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on Targa Resources from $175.00 to $225.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group increased their target price on Targa Resources from $147.00 to $163.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $176.50.

Targa Resources Stock Performance

NYSE TRGP traded down $3.99 during trading hours on Friday, hitting $194.34. The company had a trading volume of 1,497,233 shares, compared to its average volume of 1,570,280. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $42.38 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 0.77 and a beta of 2.28. Targa Resources Corp. has a fifty-two week low of $81.03 and a fifty-two week high of $209.87. The business has a fifty day simple moving average of $178.78 and a 200-day simple moving average of $150.27.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities analysts predict that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. Targa Resources's dividend payout ratio is presently 54.25%.

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.