Targa Resources Corp. (NYSE:TRGP) Stock Holdings Boosted by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. raised its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,300 shares of the pipeline company's stock after purchasing an additional 24,400 shares during the quarter. Targa Resources accounts for approximately 2.4% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 12th largest holding. Adams Natural Resources Fund Inc.'s holdings in Targa Resources were worth $14,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TRGP. Atala Financial Inc acquired a new stake in Targa Resources in the 4th quarter valued at $31,000. Rakuten Securities Inc. grew its stake in shares of Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock valued at $33,000 after buying an additional 146 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources during the 3rd quarter valued at about $35,000. Aspect Partners LLC lifted its position in Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Targa Resources by 49.4% in the 4th 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. 92.13% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRGP shares. Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Scotiabank cut 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 report on Thursday, March 6th. Truist Financial raised their target price on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Mizuho boosted their price target on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Citigroup raised their price objective on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $211.00.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded up $0.24 on Tuesday, reaching $205.20. 1,428,305 shares of the company's stock were exchanged, compared to its average volume of 1,569,928. Targa Resources Corp. has a fifty-two week low of $110.09 and a fifty-two week high of $218.51. The business's 50-day moving average is $200.01 and its two-hundred day moving average is $184.16. 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 capitalization of $44.76 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 0.61 and a beta of 2.32.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during 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%. As a group, equities research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. Targa Resources's payout ratio is currently 52.26%.

Insiders Place Their Bets

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the transaction, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the business's 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 transaction, the director now owns 2,899 shares of the company's stock, valued at approximately $568,957.74. This represents a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 over the last three months. Company insiders own 1.39% of the company's stock.

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.