1,345 Shares in Targa Resources Corp. (NYSE:TRGP) Acquired by Carl Stuart Investment Advisor Inc.

Carl Stuart Investment Advisor Inc. purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,345 shares of the pipeline company’s stock, valued at approximately $240,000. Targa Resources makes up 0.1% of Carl Stuart Investment Advisor Inc.’s investment portfolio, making the stock its 16th biggest position.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. increased its position in shares of Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 146 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources during the third quarter worth approximately $35,000. Aspect Partners LLC increased its position in shares of Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources during the fourth quarter worth approximately $49,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Price Performance

TRGP opened at $187.14 on Thursday. The stock’s 50-day moving average price is $199.00 and its 200 day moving average price is $180.77. Targa Resources Corp. has a 12-month low of $104.89 and a 12-month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a market cap of $40.82 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 0.61 and a beta of 2.32.

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

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s payout ratio is 52.26%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial dropped their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Royal Bank of Canada upped their target price on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Citigroup upped their target price on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays upped their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Scotiabank dropped their target price on Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. One equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $206.43.

Insiders Place Their Bets

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the sale, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. This represents a 6.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at approximately $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock worth $22,613,288 in the last quarter. 1.44% of the stock is 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.