Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Greenleaf Trust

Greenleaf Trust raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 6,306 shares of the pipeline company’s stock after acquiring an additional 137 shares during the period. Greenleaf Trust’s holdings in Targa Resources were worth $1,126,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Buckley Wealth Management LLC increased its stake in Targa Resources by 0.7% in the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after acquiring an additional 66 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 84 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after acquiring an additional 89 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now directly owns 82,979 shares of the company’s stock, 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. 1.44% of the stock is owned by company insiders.

Targa Resources Stock Up 2.5 %

Shares of Targa Resources stock opened at $201.78 on Tuesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1-year low of $84.43 and a 1-year high of $218.51. The business has a 50-day moving average of $193.19 and a 200-day moving average of $169.12. The company has a market capitalization of $44.00 billion, a PE ratio of 36.49, a P/E/G ratio of 0.59 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company posted $0.97 EPS. As a group, equities analysts forecast that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group lifted their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank initiated coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Truist Financial cut their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Bank of America initiated coverage on Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Targa Resources presently has an average rating of “Buy” and an average price target of $189.21.

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.