Targa Resources Corp. (NYSE:TRGP) Shares Sold by Mather Group LLC.

Mather Group LLC. reduced its position in Targa Resources Corp. (NYSE:TRGP) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,535 shares of the pipeline company’s stock after selling 164 shares during the quarter. Mather Group LLC.’s holdings in Targa Resources were worth $220,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Targa Resources by 5.1% in the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company’s stock valued at $713,107,000 after purchasing an additional 401,144 shares during the period. Deutsche Bank AG lifted its position in Targa Resources by 200.4% during the 3rd quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company’s stock worth $478,063,000 after acquiring an additional 3,720,270 shares in the last quarter. Morgan Stanley boosted its holdings in Targa Resources by 16.1% in the 3rd quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock worth $325,003,000 after acquiring an additional 524,794 shares during the period. Jennison Associates LLC grew its position in Targa Resources by 1.6% in the third quarter. Jennison Associates LLC now owns 2,487,507 shares of the pipeline company’s stock valued at $213,229,000 after acquiring an additional 39,143 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Targa Resources by 3.2% during the third quarter. FMR LLC now owns 2,431,326 shares of the pipeline company’s stock valued at $208,413,000 after purchasing an additional 74,310 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRGP. Scotiabank raised their price target on shares of Targa Resources from $112.00 to $128.00 and gave the company a “sector outperform” rating in a report on Monday, April 15th. Truist Financial lifted their target price on Targa Resources from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada increased their price target on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, February 26th. JPMorgan Chase & Co. lifted their price objective on Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Mizuho increased their target price on Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and a consensus price target of $119.92.

Targa Resources Trading Down 0.6 %

NYSE TRGP opened at $112.31 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79. Targa Resources Corp. has a one year low of $67.36 and a one year high of $117.87. The company has a 50-day simple moving average of $109.72 and a 200-day simple moving average of $94.71. The firm has a market capitalization of $24.99 billion, a PE ratio of 23.11 and a beta of 2.19.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.50%. On average, equities analysts forecast that Targa Resources Corp. will post 5.72 earnings per share for the current year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. This is an increase from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources’s dividend payout ratio is presently 61.73%.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 2,500 shares of Targa Resources stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the sale, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jennifer R. Kneale sold 26,061 shares of Targa Resources stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.36, for a total value of $2,537,298.96. Following the sale, the chief financial officer now directly owns 227,663 shares in the company, valued at approximately $22,165,269.68. The disclosure for this sale can be found here. Insiders have sold 81,966 shares of company stock valued at $7,987,215 over the last three months. Company insiders own 1.39% of the company’s stock.

Targa Resources Company 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.