American Century Companies Inc. Has $173.91 Million Position in Targa Resources Corp. (NYSE:TRGP)

American Century Companies Inc. boosted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 974,288 shares of the pipeline company’s stock after acquiring an additional 63,548 shares during the quarter. American Century Companies Inc.’s holdings in Targa Resources were worth $173,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC boosted its stake in Targa Resources by 65.1% during the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after buying an additional 10,100 shares in the last quarter. Nordea Investment Management AB boosted its stake in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock worth $5,070,000 after buying an additional 13,167 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Targa Resources by 47.5% in the 3rd quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company’s stock valued at $4,277,000 after purchasing an additional 9,307 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Targa Resources in the 4th quarter valued at $271,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $197.25 on Friday. The stock has a market capitalization of $43.02 billion, a P/E ratio of 34.36, a P/E/G ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. 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 business has a 50-day moving average price of $199.77 and a two-hundred day moving average price of $183.11.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.52%. Targa Resources’s dividend payout ratio is currently 52.26%.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent analyst reports. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company boosted their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Barclays boosted their target price on shares of Targa Resources from $204.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho boosted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Truist Financial boosted their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given 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 $211.00.

Insiders Place Their Bets

In other news, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the sale, the director now directly owns 2,899 shares of the company’s stock, valued at $568,957.74. This represents a 43.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is currently owned by insiders.

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.