Targa Resources Corp. (NYSE:TRGP) Stake Raised by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,084 shares of the pipeline company’s stock after acquiring an additional 192 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Targa Resources were worth $355,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TRGP. Harbour Investments Inc. boosted its holdings in shares of Targa Resources by 51.3% in the third quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 121 shares in the last quarter. Quarry LP bought a new position in Targa Resources during the 1st quarter valued at $33,000. VisionPoint Advisory Group LLC increased its position in shares of Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 209 shares during the period. Rational Advisors LLC bought a new stake in shares of Targa Resources in the 3rd quarter worth $43,000. Finally, Huntington National Bank lifted its holdings in shares of Targa Resources by 124.4% in the third quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after buying an additional 296 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 1.3 %

NYSE:TRGP opened at $114.41 on Wednesday. The business’s fifty day moving average price is $101.47 and its 200 day moving average price is $91.20. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 31.17 and a beta of 2.21. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 2.68. Targa Resources Corp. has a 1-year low of $67.36 and a 1-year high of $116.92.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, sell-side analysts forecast that Targa Resources Corp. will post 5.75 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.75%. Targa Resources’s payout ratio is 54.50%.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at $7,012,769.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Julie H. Boushka sold 2,500 shares of the business’s 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 sale, the chief accounting officer now owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert Muraro sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $97.31, for a total value of $973,100.00. Following the completion of the transaction, the insider now owns 219,451 shares in the company, valued at approximately $21,354,776.81. The disclosure for this sale can be found here. Insiders sold 81,966 shares of company stock valued at $7,987,215 in the last quarter. Company insiders own 1.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TRGP shares. Barclays lifted their target price on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho boosted their target price on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial increased their target price on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Citigroup lifted their price target on shares of Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada increased their price objective on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $115.70.

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.