74,605 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 74,605 shares of the pipeline company’s stock, valued at approximately $11,042,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Buckley Wealth Management LLC raised its holdings in Targa Resources by 0.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after buying an additional 65 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 83 shares during the period. Prime Capital Investment Advisors LLC raised its position in Targa Resources by 4.0% in the third 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 period. Fifth Third Bancorp lifted its stake in Targa Resources by 1.0% during the second quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after purchasing an additional 89 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Targa Resources by 22.9% during 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 in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 2.3 %

TRGP stock opened at $196.04 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company’s 50 day moving average is $163.51 and its two-hundred day moving average is $140.95. The stock has a market cap of $42.75 billion, a P/E ratio of 35.45, a PEG ratio of 0.78 and a beta of 2.24. Targa Resources Corp. has a twelve month low of $81.03 and a twelve month high of $197.14.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.97 earnings per share. Research analysts expect that Targa Resources Corp. will post 6.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. Targa Resources’s dividend payout ratio is presently 54.25%.

Insider Transactions at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $25,504,736.20. The trade was a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,760 shares of company stock worth $30,026,712. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TRGP. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays lifted their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group increased 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. Finally, Truist Financial upped their price objective on Targa Resources from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $169.79.

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.