Virtu Financial LLC Sells 6,080 Shares of Targa Resources Corp. (NYSE:TRGP)

Virtu Financial LLC trimmed its holdings in Targa Resources Corp. (NYSE:TRGP) by 72.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,367 shares of the pipeline company’s stock after selling 6,080 shares during the quarter. Virtu Financial LLC’s holdings in Targa Resources were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Atala Financial Inc bought a new position in shares of Targa Resources during the fourth quarter worth $31,000. Rakuten Securities Inc. grew its position in shares of Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares in the last quarter. Aspect Partners LLC increased its holdings in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth about $49,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of research reports. Morgan Stanley lifted their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Truist Financial boosted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Barclays increased their price objective on shares of Targa Resources from $204.00 to $211.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Wells Fargo & Company boosted their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group increased their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $211.00.

Targa Resources Stock Down 1.8 %

Shares of TRGP opened at $201.91 on Thursday. The firm has a fifty day moving average price of $199.95 and a 200-day moving average price of $184.28. 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 market capitalization of $44.04 billion, a P/E ratio of 35.18, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 12-month low of $110.09 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts expect that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.49%. Targa Resources’s payout ratio is currently 52.26%.

Insider Buying and Selling at Targa Resources

In other news, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. The trade was a 6.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at $16,206,024.70. The trade was a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last ninety days. Corporate insiders own 1.39% of the company’s stock.

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.