XTX Topco Ltd Sells 14,758 Shares of Targa Resources Corp. (NYSE:TRGP)

XTX Topco Ltd decreased its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 89.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,666 shares of the pipeline company's stock after selling 14,758 shares during the period. XTX Topco Ltd's holdings in Targa Resources were worth $297,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Targa Resources in the fourth quarter valued at $505,132,000. GQG Partners LLC bought a new position in shares of Targa Resources during the 4th quarter worth approximately $393,335,000. Raymond James Financial Inc. bought a new stake in Targa Resources in the 4th quarter valued at $150,372,000. TD Asset Management Inc. lifted its holdings in Targa Resources by 568.7% during the 4th quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after purchasing an additional 825,267 shares during the last quarter. Finally, Amundi lifted its holdings in Targa Resources by 20.9% during the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company's stock valued at $353,469,000 after purchasing an additional 318,261 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRGP shares. Wells Fargo & Company raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Mizuho reduced their price objective on Targa Resources from $226.00 to $218.00 and set an "outperform" rating for the company in a report on Monday. Truist Financial increased their target price on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Citigroup boosted their price target on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Barclays dropped their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $209.29.

Insider Buying and Selling

In other news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction that occurred 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 directly owns 227,269 shares of the company's stock, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Waters S. Iv Davis sold 2,190 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 in the last 90 days. Insiders own 1.34% of the company's stock.

Targa Resources Price Performance

Targa Resources stock traded down $1.20 during midday trading on Tuesday, reaching $178.05. The company's stock had a trading volume of 806,428 shares, compared to its average volume of 1,727,886. The stock has a market cap of $38.74 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51. The business has a 50-day moving average price of $184.97 and a 200-day moving average price of $188.34.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Targa Resources's dividend payout ratio (DPR) is 69.69%.

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.