Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Centre Asset Management LLC

Centre Asset Management LLC lifted its holdings in Targa Resources Corp. (NYSE:TRGP) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,300 shares of the pipeline company’s stock after buying an additional 364 shares during the period. Centre Asset Management LLC’s holdings in Targa Resources were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Targa Resources by 18.4% in the 4th quarter. GAMMA Investing LLC now owns 4,072 shares of the pipeline company’s stock valued at $727,000 after buying an additional 632 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Targa Resources by 199.6% during the 4th quarter. Versant Capital Management Inc now owns 818 shares of the pipeline company’s stock valued at $146,000 after acquiring an additional 545 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Targa Resources by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after acquiring an additional 96,268 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Targa Resources by 2.9% in the third quarter. Principal Financial Group Inc. now owns 814,296 shares of the pipeline company’s stock valued at $120,540,000 after purchasing an additional 22,621 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Targa Resources during the third quarter worth about $7,206,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America initiated coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective on the stock. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Royal Bank of Canada increased their price target on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $181.43.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Up 1.6 %

Shares of NYSE TRGP traded up $2.93 during midday trading on Friday, hitting $185.99. The company’s stock had a trading volume of 114,651 shares, compared to its average volume of 622,319. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The business’s fifty day simple moving average is $186.32 and its two-hundred day simple moving average is $158.12. The firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $0.97 EPS. On average, equities analysts predict that Targa Resources Corp. will post 6.26 EPS for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.61%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Targa Resources Company 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.