415 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 415 shares of the pipeline company’s stock, valued at approximately $74,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NEOS Investment Management LLC lifted its stake in shares of Targa Resources by 28.9% during the 4th quarter. NEOS Investment Management LLC now owns 11,094 shares of the pipeline company’s stock valued at $1,980,000 after buying an additional 2,484 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its position in shares of Targa Resources by 8.9% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 20,249 shares of the pipeline company’s stock worth $3,614,000 after acquiring an additional 1,655 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Targa Resources by 5.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 338,826 shares of the pipeline company’s stock worth $63,079,000 after acquiring an additional 17,413 shares in the last quarter. Banco BTG Pactual S.A. bought a new position in shares of Targa Resources in the fourth quarter worth $345,000. Finally, TrueMark Investments LLC grew its position in shares of Targa Resources by 302.9% in the fourth quarter. TrueMark Investments LLC now owns 10,149 shares of the pipeline company’s stock valued at $1,812,000 after purchasing an additional 7,630 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

TRGP has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Citigroup boosted their price objective on shares of Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Scotiabank lowered their target price on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Truist Financial boosted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Barclays increased their price objective on Targa Resources from $204.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $211.00.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $197.69 on Monday. The business’s 50-day moving average price is $199.31 and its 200-day moving average price is $185.33. The firm has a market capitalization of $43.12 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 12 month low of $110.09 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.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share 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 business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Sell-side analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Buying and Selling

In related news, CEO Matthew J. Meloy sold 48,837 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,914 shares of company stock valued at $22,613,288 over the last three months. 1.39% of the stock is owned by company insiders.

Targa Resources Profile

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.