Catalina Capital Group LLC Purchases 85 Shares of Targa Resources Corp. (NYSE:TRGP)

Catalina Capital Group LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,239 shares of the pipeline company’s stock after acquiring an additional 85 shares during the quarter. Catalina Capital Group LLC’s holdings in Targa Resources were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the third quarter worth $29,000. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the third quarter worth about $35,000. Rosenberg Matthew Hamilton grew its holdings in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the last quarter. Finally, Huntington National Bank lifted its position in Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after buying an additional 89 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

NYSE TRGP opened at $201.78 on Tuesday. The business’s 50-day simple moving average is $193.19 and its 200-day simple moving average is $169.12. The firm has a market capitalization of $44.00 billion, a P/E ratio of 36.49, a P/E/G ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 1-year low of $84.43 and a 1-year high of $218.51. 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 (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the previous year, the firm earned $0.97 earnings per share. Equities analysts predict that Targa Resources Corp. will post 6.41 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.49%. Targa Resources’s dividend payout ratio is currently 54.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRGP. Bank of America began coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Scotiabank started coverage on shares of Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price for the company. Truist Financial cut their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources presently has an average rating of “Buy” and an average price target of $189.21.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by 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.