Axa S.A. Increases Stock Position in Targa Resources Corp. (NYSE:TRGP)

Axa S.A. boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,807 shares of the pipeline company’s stock after purchasing an additional 5,073 shares during the quarter. Axa S.A.’s holdings in Targa Resources were worth $4,071,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TRGP. Atala Financial Inc acquired a new stake in shares of Targa Resources during the fourth quarter worth about $31,000. Rakuten Securities Inc. lifted its position in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 146 shares during the period. Mizuho Bank Ltd. purchased a new position in shares of Targa Resources in the 4th quarter valued at approximately $36,000. Aspect Partners LLC increased its holdings in shares of Targa Resources by 144.4% in the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Targa Resources stock opened at $158.86 on Thursday. The firm’s 50-day moving average is $180.05 and its two-hundred day moving average is $188.03. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a market capitalization of $34.57 billion, a P/E ratio of 27.68, a P/E/G ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 12-month low of $112.05 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Equities analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $1.00 dividend. This represents a yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources’s payout ratio is 73.66%.

Analysts Set New Price Targets

TRGP has been the subject of several recent analyst reports. Barclays reduced their price target on Targa Resources from $211.00 to $206.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Morgan Stanley boosted their target price on shares of Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Wells Fargo & Company increased their price target on shares of Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group decreased their price objective on shares of Targa Resources from $218.00 to $194.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial increased their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus target price of $207.21.

Insider Buying and Selling at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. This trade represents a 43.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,914 shares of company stock worth $22,613,288 in the last 90 days. 1.34% of the stock is owned by company 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.