Curated Wealth Partners LLC Acquires Shares of 3,271 Targa Resources Corp. (NYSE:TRGP)

Curated Wealth Partners LLC bought a new position in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,271 shares of the pipeline company’s stock, valued at approximately $584,000.

A number of other institutional investors have also made changes to their positions in the company. DT Investment Partners LLC bought a new position in Targa Resources in the third quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Targa Resources in the 2nd quarter worth approximately $29,000. Prospera Private Wealth LLC acquired a new position in Targa Resources during the 3rd quarter valued at approximately $35,000. Rosenberg Matthew Hamilton grew its stake in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRGP has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Scotiabank began coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price for the company. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Truist Financial reduced their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Bank of America began coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $189.21.

Insider Buying and Selling

In other news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred 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 transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred 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 owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $209.10 on Friday. Targa Resources Corp. has a twelve month low of $84.00 and a twelve month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a 50-day moving average of $193.20 and a two-hundred day moving average of $165.75. The company has a market capitalization of $45.60 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 0.63 and a beta of 2.30.

Targa Resources (NYSE:TRGP) last released its 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. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the prior year, the business earned $0.97 earnings per share. As a group, analysts expect that Targa Resources Corp. will post 6.42 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

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.