Targa Resources Corp. (NYSE:TRGP) Shares Bought by National Pension Service

National Pension Service grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,382 shares of the pipeline company’s stock after buying an additional 8,321 shares during the quarter. National Pension Service owned 0.14% of Targa Resources worth $44,164,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TRGP. Vanguard Group Inc. increased its holdings in Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after buying an additional 201,817 shares during the last quarter. Blackstone Inc. increased its holdings in shares of Targa Resources by 2.7% in the 1st quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after acquiring an additional 252,729 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock valued at $296,647,000 after acquiring an additional 271,444 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Targa Resources by 26.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,721 shares of the pipeline company’s stock worth $194,720,000 after purchasing an additional 360,675 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Targa Resources by 5.9% in the second quarter. Truist Financial Corp now owns 838,714 shares of the pipeline company’s stock worth $108,010,000 after purchasing an additional 46,864 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

TRGP stock opened at $186.04 on Thursday. The company has a market capitalization of $40.76 billion, a P/E ratio of 39.17, a PEG ratio of 1.31 and a beta of 2.24. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The company has a 50-day simple moving average of $157.18 and a 200 day simple moving average of $137.19. Targa Resources Corp. has a fifty-two week low of $81.03 and a fifty-two week high of $189.62.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts predict that Targa Resources Corp. will post 5.96 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.61%. Targa Resources’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised their target price on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada upped their target price on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Scotiabank raised their price target on Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 17th. Finally, Bank of America initiated coverage on Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and an average target price of $157.21.

Insider Activity

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the sale, the insider now directly owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Targa Resources news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gerald R. Shrader sold 3,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $136.06, for a total value of $408,180.00. Following the sale, the insider now owns 29,603 shares of the company’s stock, valued at $4,027,784.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,764 shares of company stock worth $24,829,770 over the last 90 days. 1.44% of the stock is currently owned by company insiders.

Targa Resources Company 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.