Targa Resources Corp. (NYSE:TRGP – Get Free Report) insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Targa Resources Stock Down 0.3 %
Shares of NYSE TRGP traded down $0.65 during midday trading on Tuesday, hitting $194.31. 1,081,340 shares of the stock traded hands, compared to its average volume of 1,651,220. The business has a 50 day moving average price of $159.88 and a two-hundred day moving average price of $138.94. Targa Resources Corp. has a one year low of $81.03 and a one year high of $197.14. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $42.37 billion, a PE ratio of 35.25, a P/E/G ratio of 1.49 and a beta of 2.24.
Targa Resources (NYSE:TRGP – Get Free Report) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the business earned $0.97 EPS. On average, equities analysts predict that Targa Resources Corp. will post 6.19 EPS for the current year.
Targa Resources Announces Dividend
Hedge Funds Weigh In On Targa Resources
A number of hedge funds and other institutional investors have recently modified their holdings of TRGP. Buckley Wealth Management LLC lifted its position in Targa Resources by 0.7% in the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock valued at $138,000 after buying an additional 83 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 84 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Targa Resources by 1.0% in the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after acquiring an additional 89 shares during the period. Finally, Huntington National Bank boosted its position in Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 89 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on TRGP. Barclays lifted their price target on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial raised their price target on shares of Targa Resources from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Morgan Stanley raised their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $159.14.
View Our Latest Stock Analysis on Targa Resources
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.
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