Camelot Technology Advisors Inc. Purchases 1,025 Shares of Targa Resources Corp. (NYSE:TRGP)

Camelot Technology Advisors Inc. increased its holdings in Targa Resources Corp. (NYSE:TRGP) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,235 shares of the pipeline company’s stock after acquiring an additional 1,025 shares during the period. Targa Resources comprises approximately 2.0% of Camelot Technology Advisors Inc.’s portfolio, making the stock its 13th biggest holding. Camelot Technology Advisors Inc.’s holdings in Targa Resources were worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TRGP. Segment Wealth Management LLC increased its holdings in Targa Resources by 2,753.4% during the fourth quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company’s stock worth $9,876,000 after buying an additional 53,389 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Targa Resources by 3.5% during the 4th quarter. Ballentine Partners LLC now owns 3,653 shares of the pipeline company’s stock valued at $652,000 after acquiring an additional 124 shares during the period. UMB Bank n.a. increased its stake in shares of Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the last quarter. Clarius Group LLC increased its stake in shares of Targa Resources by 9.1% during the 4th quarter. Clarius Group LLC now owns 1,660 shares of the pipeline company’s stock worth $296,000 after purchasing an additional 138 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in Targa Resources by 4.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,216 shares of the pipeline company’s stock valued at $574,000 after purchasing an additional 138 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the business’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 value of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.44% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the subject of a number of recent research reports. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America began coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. Truist Financial dropped their price target on shares of 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, Barclays lifted their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

NYSE:TRGP opened at $216.00 on Tuesday. The stock has a market cap of $47.10 billion, a P/E ratio of 39.06, a PEG ratio of 0.64 and a beta of 2.30. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The business’s 50-day moving average price is $191.56 and its two-hundred day moving average price is $163.93. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $217.02.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.97 earnings per share. As a group, equities analysts predict that Targa Resources Corp. will post 6.42 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.39%. 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.