Targa Resources, Inc. $TRGP Shares Acquired by National Pension Service

National Pension Service lifted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 288,004 shares of the pipeline company’s stock after acquiring an additional 32,696 shares during the period. National Pension Service’s holdings in Targa Resources were worth $53,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TRGP. Wellington Management Group LLP grew its stake in Targa Resources by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock worth $3,291,012,000 after buying an additional 1,620,253 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Targa Resources during the 3rd quarter worth approximately $121,426,000. Vanguard Group Inc. grew its stake in Targa Resources by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock worth $4,755,169,000 after buying an additional 422,075 shares during the last quarter. Merewether Investment Management LP grew its stake in Targa Resources by 52.9% during the 2nd quarter. Merewether Investment Management LP now owns 992,582 shares of the pipeline company’s stock worth $172,789,000 after buying an additional 343,319 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Targa Resources by 107.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 588,684 shares of the pipeline company’s stock worth $98,628,000 after buying an additional 304,426 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Patrick J. Mcdonie sold 31,537 shares of Targa Resources stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total value of $7,548,696.32. Following the transaction, the insider directly owned 305,163 shares in the company, valued at approximately $73,043,815.68. This trade represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the completion of the transaction, the director owned 66,492 shares in the company, valued at $17,019,292.32. This trade represents a 13.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 66,728 shares of company stock worth $16,196,694. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. US Capital Advisors downgraded Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday. Truist Financial raised their price target on Targa Resources from $285.00 to $289.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group raised their price target on Targa Resources from $242.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. BMO Capital Markets restated an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a research note on Friday, February 20th. Finally, Barclays raised their price target on Targa Resources from $255.00 to $262.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.21.

Targa Resources Trading Down 2.7%

Shares of TRGP stock opened at $255.14 on Friday. The business’s 50 day moving average is $251.28 and its two-hundred day moving average is $216.18. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $280.00. The company has a market capitalization of $54.76 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Equities analysts forecast that Targa Resources, Inc. will post 10.67 EPS for the current year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a $1.25 dividend. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, April 30th. This represents a $5.00 annualized dividend and a dividend yield of 2.0%. Targa Resources’s dividend payout ratio (DPR) is 50.56%.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.