Vise Technologies Inc. Purchases 3,083 Shares of Targa Resources, Inc. $TRGP

Vise Technologies Inc. lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 41.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,491 shares of the pipeline company’s stock after purchasing an additional 3,083 shares during the quarter. Vise Technologies Inc.’s holdings in Targa Resources were worth $1,935,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its holdings in Targa Resources by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 47,471 shares of the pipeline company’s stock worth $8,758,000 after acquiring an additional 3,391 shares during the last quarter. State of Wyoming bought a new stake in Targa Resources during the 4th quarter worth about $308,000. Cibc World Market Inc. grew its holdings in Targa Resources by 38.9% during the 4th quarter. Cibc World Market Inc. now owns 230,674 shares of the pipeline company’s stock worth $42,559,000 after acquiring an additional 64,555 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Targa Resources by 66.3% during the 4th quarter. CIBC Asset Management Inc now owns 50,828 shares of the pipeline company’s stock worth $9,378,000 after acquiring an additional 20,256 shares during the last quarter. Finally, Marble Wealth LLC bought a new stake in Targa Resources during the 4th quarter worth about $231,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $264.19 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $280.00. The company has a market cap of $56.71 billion, a PE ratio of 26.71, a PEG ratio of 1.35 and a beta of 0.72. The company’s 50-day moving average is $253.46 and its two-hundred day moving average is $219.78.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, May 7th. The pipeline company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. Equities analysts anticipate that Targa Resources, Inc. will post 10.75 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, April 30th. This is a boost from Targa Resources’s previous quarterly dividend of $1.00. Targa Resources’s dividend payout ratio is currently 50.56%.

Insider Transactions at Targa Resources

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the transaction, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. This represents a 13.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Targa Resources from $285.00 to $289.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Stifel Nicolaus set a $268.00 price objective on shares of Targa Resources in a report on Friday, May 8th. Scotiabank increased their price objective on shares of Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Seaport Research Partners reissued a “neutral” rating on shares of Targa Resources in a report on Monday, May 4th. Finally, Citigroup reissued a “buy” rating on shares of Targa Resources in a report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Targa Resources has an average rating of “Moderate Buy” and a consensus price target of $269.21.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.