Teacher Retirement System of Texas Purchases 49,680 Shares of Targa Resources Corp. (NYSE:TRGP)

Teacher Retirement System of Texas boosted its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 231.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,119 shares of the pipeline company's stock after acquiring an additional 49,680 shares during the period. Teacher Retirement System of Texas' holdings in Targa Resources were worth $12,695,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TRGP. Raymond James Financial Inc. bought a new position in Targa Resources in the fourth quarter worth $150,372,000. Wellington Management Group LLP boosted its position 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 valued at $2,235,927,000 after acquiring an additional 633,589 shares in the last quarter. Amundi increased its stake in Targa Resources by 20.9% in the fourth quarter. Amundi now owns 1,841,175 shares of the pipeline company's stock valued at $353,469,000 after acquiring an additional 318,261 shares during the period. National Bank of Canada FI raised its position in Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock worth $89,413,000 after purchasing an additional 259,776 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Targa Resources by 40.0% during the fourth quarter. Allianz Asset Management GmbH now owns 890,514 shares of the pipeline company's stock worth $158,957,000 after purchasing an additional 254,286 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

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Insiders Place Their Bets

In other news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction 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 transaction, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. This represents a 43.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of Targa Resources stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Barclays upped their target price on shares of Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Truist Financial lifted their price target 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. Finally, Scotiabank decreased their price objective on shares of Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $211.00.

Targa Resources Trading Down 1.8 %

Shares of TRGP stock traded down $3.66 on Wednesday, reaching $201.91. 1,281,103 shares of the stock were exchanged, compared to its average volume of 1,568,440. The stock has a 50 day moving average price of $200.01 and a 200 day moving average price of $184.16. The stock has a market cap of $44.04 billion, a PE ratio of 35.18, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a one year low of $110.09 and a one year high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Targa Resources's 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.