Targa Resources Corp. (NYSE:TRGP) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Targa Resources Corp. (NYSE:TRGPFree Report) by 14.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,858,920 shares of the pipeline company’s stock after acquiring an additional 234,749 shares during the period. Dimensional Fund Advisors LP’s holdings in Targa Resources were worth $161,479,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TRGP. QRG Capital Management Inc. increased its holdings in shares of Targa Resources by 11.4% in the 4th quarter. QRG Capital Management Inc. now owns 6,137 shares of the pipeline company’s stock valued at $533,000 after acquiring an additional 629 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Targa Resources in the fourth quarter valued at approximately $459,000. Principal Securities Inc. acquired a new stake in Targa Resources during the fourth quarter worth approximately $154,000. Delos Wealth Advisors LLC purchased a new stake in shares of Targa Resources during the 4th quarter worth approximately $43,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Targa Resources in the 4th quarter valued at $42,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

NYSE:TRGP opened at $116.13 on Friday. The firm’s fifty day simple moving average is $112.46 and its 200-day simple moving average is $96.59. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. The stock has a market cap of $25.75 billion, a PE ratio of 23.90 and a beta of 2.19. Targa Resources Corp. has a fifty-two week low of $67.36 and a fifty-two week high of $117.87.

Targa Resources (NYSE:TRGPGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. Analysts expect that Targa Resources Corp. will post 5.61 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, April 29th. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 2.58%. Targa Resources’s payout ratio is currently 61.73%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the transaction, the insider now owns 136,098 shares in the company, valued at $15,396,766.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Scott Pryor sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $113.13, for a total value of $2,262,600.00. Following the completion of the sale, the insider now directly owns 136,098 shares in the company, valued at $15,396,766.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,657 shares of company stock valued at $11,680,978. Insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company raised their price target on Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. UBS Group lowered their target price on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. JPMorgan Chase & Co. lifted their price objective on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Citigroup raised their price target on Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Check Out Our Latest Report on TRGP

Targa Resources Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding TRGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Targa Resources Corp. (NYSE:TRGPFree Report).

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.