1,607 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,607 shares of the pipeline company’s stock, valued at approximately $137,000.

Several other institutional investors also recently modified their holdings of TRGP. VisionPoint Advisory Group LLC grew its stake in shares of Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 209 shares during the last quarter. Rational Advisors LLC acquired a new position in Targa Resources in the third quarter valued at $43,000. Huntington National Bank lifted its holdings in Targa Resources by 124.4% in the third quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after buying an additional 296 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Targa Resources by 36.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock valued at $48,000 after buying an additional 150 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Targa Resources by 77.5% in the third quarter. EverSource Wealth Advisors LLC now owns 850 shares of the pipeline company’s stock valued at $73,000 after buying an additional 371 shares during the period. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the sale, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the sale, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the transaction, the insider now directly owns 156,098 shares of the company’s stock, valued at $15,141,506. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,966 shares of company stock valued at $7,987,215. Corporate insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TRGP shares. Truist Financial boosted their target price on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Barclays upped their price objective on shares of Targa Resources from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Mizuho upped their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average price target of $119.55.

Targa Resources Trading Down 0.7 %

NYSE:TRGP opened at $116.86 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The firm has a 50-day moving average of $108.36 and a 200-day moving average of $93.98. The company has a market cap of $26.01 billion, a PE ratio of 31.84 and a beta of 2.21. Targa Resources Corp. has a one year low of $67.36 and a one year high of $117.87.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. As a group, equities research analysts expect that Targa Resources Corp. will post 5.8 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, April 29th. Targa Resources’s dividend payout ratio is presently 54.50%.

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.