Atria Investments Inc Cuts Holdings in Targa Resources Corp. (NYSE:TRGP)

Atria Investments Inc decreased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,831 shares of the pipeline company’s stock after selling 2,575 shares during the period. Atria Investments Inc’s holdings in Targa Resources were worth $2,826,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aspect Partners LLC grew 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 valued at $39,000 after purchasing an additional 130 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources during the third quarter valued at about $35,000. Rosenberg Matthew Hamilton grew 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 valued at $48,000 after purchasing an additional 89 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Targa Resources during the fourth quarter valued at about $49,000. Finally, Assetmark Inc. grew its position in shares of Targa Resources by 1,812.5% during the fourth quarter. Assetmark Inc. now owns 306 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TRGP shares. Mizuho increased their price target on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Truist Financial lowered their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Scotiabank lowered their price target on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus price target of $206.43.

Targa Resources Stock Down 0.0 %

Shares of NYSE TRGP opened at $181.93 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market cap of $39.68 billion, a P/E ratio of 31.70, a PEG ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1 year low of $103.18 and a 1 year high of $218.51. The firm has a 50-day simple moving average of $198.77 and a two-hundred day simple moving average of $179.95.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data 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). The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Research analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

Insider Activity

In other news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares of the company’s stock, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,914 shares of company stock valued at $22,613,288. Corporate insiders own 1.39% of the company’s stock.

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.