Dynamic Technology Lab Private Ltd Has $395,000 Position in Targa Resources Corp. (NYSE:TRGP)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 83.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,210 shares of the pipeline company’s stock after selling 11,491 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Targa Resources were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Mizuho Bank Ltd. acquired a new stake in shares of Targa Resources during the fourth quarter worth approximately $36,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Targa Resources during the fourth quarter worth approximately $12,389,000. Prudential PLC lifted its stake in Targa Resources by 170.0% in the fourth quarter. Prudential PLC now owns 7,106 shares of the pipeline company’s stock valued at $1,268,000 after acquiring an additional 4,474 shares during the last quarter. ExodusPoint Capital Management LP lifted its stake in Targa Resources by 8.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 177,036 shares of the pipeline company’s stock valued at $31,601,000 after acquiring an additional 13,549 shares during the last quarter. Finally, World Investment Advisors acquired a new stake in Targa Resources in the fourth quarter valued at approximately $288,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TRGP. Wells Fargo & Company lifted their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Citigroup lifted their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Barclays reduced their target price on shares of Targa Resources from $211.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, Truist Financial boosted their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources presently has an average rating of “Buy” and an average price target of $210.64.

Targa Resources Trading Up 8.2 %

Shares of TRGP stock opened at $173.80 on Thursday. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51. The firm’s fifty day simple moving average is $193.55 and its 200 day simple moving average is $186.73. The firm has a market capitalization of $37.82 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 52.26%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 in the last 90 days. 1.39% of the stock is currently owned by company insiders.

About Targa Resources

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.