Quantbot Technologies LP Has $4.14 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Quantbot Technologies LP lifted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 680.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,969 shares of the pipeline company’s stock after acquiring an additional 24,387 shares during the quarter. Quantbot Technologies LP’s holdings in Targa Resources were worth $4,140,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Targa Resources during the 2nd quarter valued at approximately $29,000. DT Investment Partners LLC bought a new stake in Targa Resources during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. boosted its stake in Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Prospera Private Wealth LLC bought a new stake in Targa Resources during the 3rd quarter valued at approximately $35,000. Finally, Whittier Trust Co. bought a new stake in Targa Resources during the 2nd quarter valued at approximately $44,000. Institutional investors own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now owns 110,470 shares in the company, valued at approximately $17,181,399.10. This represents a 57.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock worth $30,026,712 in the last three months. Insiders own 1.44% of the company’s stock.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several recent analyst reports. Truist Financial increased their target price on Targa Resources from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their price objective on Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays increased their target price on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $176.50.

Targa Resources Stock Up 1.2 %

Shares of TRGP opened at $203.42 on Wednesday. The firm has a market capitalization of $44.36 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 0.80 and a beta of 2.24. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The business’s fifty day moving average price is $171.40 and its two-hundred day moving average price is $145.62. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period last year, the company earned $0.97 EPS. On average, analysts predict that Targa Resources Corp. will post 6.23 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Targa Resources’s dividend payout ratio is currently 54.25%.

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.