Xponance Inc. Acquires 17,796 Shares of Targa Resources Corp. (NYSE:TRGP)

Xponance Inc. lifted its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,912 shares of the pipeline company's stock after buying an additional 17,796 shares during the quarter. Xponance Inc.'s holdings in Targa Resources were worth $11,765,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Generali Asset Management SPA SGR bought a new stake in shares of Targa Resources in the 4th quarter valued at approximately $5,079,000. Evoke Wealth LLC acquired a new stake in Targa Resources in the 4th quarter worth approximately $230,000. Thrivent Financial for Lutherans lifted its holdings in Targa Resources by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 15,208 shares of the pipeline company's stock worth $2,752,000 after purchasing an additional 1,102 shares during the last quarter. PDS Planning Inc acquired a new stake in Targa Resources in the 4th quarter worth approximately $250,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Targa Resources in the 4th quarter worth approximately $307,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

Shares of NYSE TRGP traded down $2.27 during trading hours on Friday, reaching $197.25. The stock had a trading volume of 2,054,808 shares, compared to its average volume of 1,573,416. The business's fifty day moving average is $199.77 and its two-hundred day moving average is $183.11. 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 company has a market cap of $43.02 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51.

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

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio (DPR) is 52.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRGP shares. Mizuho boosted their target price on Targa Resources from $208.00 to $226.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Royal Bank of Canada boosted their target price on Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Scotiabank reduced their target price 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. Truist Financial boosted their target price on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Finally, Barclays upped their price target on Targa Resources from $204.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday. One research 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. According to MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average price target of $211.00.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the company's 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 in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % 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 worth $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.