Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its position in shares of Targa Resources Corp. (NYSE:TRGP) by 40.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,651 shares of the pipeline company’s stock after buying an additional 1,618 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Targa Resources were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Targa Resources by 4.7% in the third quarter. Signaturefd LLC now owns 5,408 shares of the pipeline company’s stock worth $464,000 after acquiring an additional 244 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Targa Resources by 16.1% in the 3rd quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock valued at $325,003,000 after purchasing an additional 524,794 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of Targa Resources by 364.0% during the 3rd quarter. Quadrature Capital Ltd now owns 88,834 shares of the pipeline company’s stock valued at $7,615,000 after buying an additional 69,690 shares during the period. Spirit of America Management Corp NY increased its holdings in shares of Targa Resources by 21.6% during the 4th quarter. Spirit of America Management Corp NY now owns 57,500 shares of the pipeline company’s stock worth $4,995,000 after buying an additional 10,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Targa Resources by 32.8% in the 3rd quarter. Nordea Investment Management AB now owns 18,001 shares of the pipeline company’s stock worth $1,543,000 after buying an additional 4,447 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group dropped their price target on Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Truist Financial raised their price target on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Stifel Nicolaus lifted their price target on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup increased their price objective on shares of Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average price target of $119.92.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $97.31, for a total transaction of $973,100.00. Following the sale, the insider now owns 219,451 shares in the company, valued at $21,354,776.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total value of $3,262,666.35. Following the completion of the transaction, the director now directly owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $97.31, for a total transaction of $973,100.00. Following the sale, the insider now owns 219,451 shares in the company, valued at approximately $21,354,776.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is currently owned by corporate insiders.

Targa Resources Stock Performance

Targa Resources stock opened at $112.80 on Tuesday. Targa Resources Corp. has a 12-month low of $67.36 and a 12-month high of $117.87. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 23.21 and a beta of 2.19. The firm’s fifty day moving average price is $110.33 and its 200 day moving average price is $95.16.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. On average, research analysts forecast that Targa Resources Corp. will post 5.72 EPS for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Monday, April 29th. Targa Resources’s dividend payout ratio is 61.73%.

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.