Diversified Trust Co Acquires 6,558 Shares of Targa Resources Corp. (NYSE:TRGP)

Diversified Trust Co boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 133.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,475 shares of the pipeline company’s stock after buying an additional 6,558 shares during the period. Diversified Trust Co’s holdings in Targa Resources were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRGP. Nordea Investment Management AB grew its position in shares of Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after purchasing an additional 13,167 shares in the last quarter. Centre Asset Management LLC grew its holdings in Targa Resources by 7.4% during the 4th quarter. Centre Asset Management LLC now owns 5,300 shares of the pipeline company’s stock valued at $946,000 after buying an additional 364 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Targa Resources by 18.4% during the fourth quarter. GAMMA Investing LLC now owns 4,072 shares of the pipeline company’s stock valued at $727,000 after buying an additional 632 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Targa Resources by 199.6% in the fourth quarter. Versant Capital Management Inc now owns 818 shares of the pipeline company’s stock worth $146,000 after buying an additional 545 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Targa Resources by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after acquiring an additional 96,268 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $187.76 on Wednesday. The company’s fifty day moving average is $187.61 and its 200 day moving average is $159.92. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87. The stock has a market cap of $40.94 billion, a PE ratio of 33.95, a PEG ratio of 0.73 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 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the business earned $0.97 earnings per share. Research analysts anticipate that Targa Resources Corp. will post 6.26 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 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 1.60%. The ex-dividend date was Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TRGP shares. Truist Financial decreased their target price on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays upped their target price on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $181.43.

Insider Transactions at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

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.