Sustainable Insight Capital Management LLC Acquires New Shares in Targa Resources Corp. (NYSE:TRGP)

Sustainable Insight Capital Management LLC bought a new position in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,900 shares of the pipeline company’s stock, valued at approximately $339,000.

Other large investors have also recently bought and sold shares of the company. Mutual Advisors LLC bought a new stake in shares of Targa Resources in the 4th quarter valued at $269,000. Janney Montgomery Scott LLC grew its holdings in Targa Resources by 7.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 48,289 shares of the pipeline company’s stock worth $8,620,000 after acquiring an additional 3,327 shares during the period. Advisory Alpha LLC lifted its stake in shares of Targa Resources by 8.0% in the 4th quarter. Advisory Alpha LLC now owns 3,520 shares of the pipeline company’s stock valued at $628,000 after purchasing an additional 260 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at about $257,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Targa Resources during the 4th quarter valued at $271,000. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays increased their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price target on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Stock Up 0.1 %

Shares of NYSE TRGP opened at $211.58 on Friday. The firm’s fifty day moving average is $192.80 and its 200 day moving average is $165.43. Targa Resources Corp. has a 52 week low of $83.35 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market cap of $46.14 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 0.63 and a beta of 2.30.

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, beating analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the previous year, the company earned $0.97 earnings per share. On average, equities research analysts expect that Targa Resources Corp. will post 6.42 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources 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 in the company, valued at $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate 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.