2,840 Targa Resources, Inc. $TRGP Shares Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC raised its stake in Targa Resources, Inc. (NYSE:TRGP) by 278.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,859 shares of the pipeline company’s stock after acquiring an additional 2,840 shares during the quarter. Strategy Asset Managers LLC’s holdings in Targa Resources were worth $1,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of Targa Resources by 238.0% during the 2nd quarter. Tidal Investments LLC now owns 41,741 shares of the pipeline company’s stock valued at $11,192,000 after purchasing an additional 29,390 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Targa Resources during the 2nd quarter worth approximately $100,442,000. Hsbc Holdings PLC lifted its stake in Targa Resources by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock valued at $151,331,000 after purchasing an additional 53,413 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in Targa Resources by 37.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock valued at $57,816,000 after purchasing an additional 62,652 shares during the last quarter. Finally, Nykredit A S bought a new position in Targa Resources in the 2nd quarter valued at approximately $33,314,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $290.62 on Thursday. The firm has a market capitalization of $62.32 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.38 and a beta of 0.80. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. The business’s 50-day moving average price is $285.19 and its 200-day moving average price is $269.59. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $307.94.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Equities research analysts forecast that Targa Resources, Inc. will post 11.30 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 30th. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is currently 47.80%.

Insider Buying and Selling

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the transaction, the director directly owned 62,292 shares in the company, valued at approximately $18,079,007.16. This represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Waters S. Iv Davis sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the transaction, the director owned 1,529 shares of the company’s stock, valued at approximately $458,195.43. This trade represents a 61.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,216 shares of company stock worth $2,127,634 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TRGP shares. Scotiabank raised their target price on shares of Targa Resources from $257.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. BMO Capital Markets upped their price target on shares of Targa Resources from $278.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Wolfe Research set a $335.00 price target on shares of Targa Resources in a report on Friday, August 7th. Stifel Nicolaus set a $335.00 price target on Targa Resources in a research note on Friday, October 9th. Finally, Morgan Stanley increased their price target on Targa Resources from $343.00 to $359.00 and gave the company an “overweight” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $318.45.

Key Stories Impacting Targa Resources

Here are the key news stories impacting Targa Resources this week:

• Positive Sentiment: Analyst earnings estimates increased. Erste Group Bank raised its FY2027 EPS forecast to $12.31 from $12.20 and maintained a “Buy” rating. Another analyst report cited an average price target of $317.85, suggesting potential upside from recent trading levels.
• Positive Sentiment: Targa maintained its quarterly dividend. The company declared a $1.25-per-share dividend, equivalent to $5.00 annually and a yield of approximately 1.7%. Shareholders of record on October 30 will be paid on November 17. Targa Resources dividend announcement
• Positive Sentiment: Recent operating performance remains solid. Targa reported second-quarter revenue of approximately $4.4 billion, up 4.23% year over year, while its latest quarterly EPS of $3.54 exceeded the $2.83 consensus estimate.
• Neutral Sentiment: Third-quarter results are approaching. Targa will report before the market opens on November 5 and hold an earnings webcast afterward. The event could provide updated guidance on volumes, capital spending and the outlook for natural gas and natural gas liquids demand.
• Negative Sentiment: Insider selling may weigh on sentiment. Company insiders reportedly made 10 open-market sales and no purchases over the past six months, selling shares worth several million dollars. This can raise concerns about executive confidence, even though insider sales may also reflect scheduled diversification.
• Negative Sentiment: Valuation and leverage remain risks. Targa trades near its one-year high at roughly 28 times earnings and has a debt-to-equity ratio above 5, leaving the stock vulnerable to profit-taking or higher interest-rate concerns. Commodity-price volatility and project-execution risks could also affect future results.

Targa Resources Company Profile

Targa Resources Corp. (NYSE: TRGP) is a Houston-based midstream energy company that owns, operates and develops infrastructure for gathering, processing, transporting, storing and exporting natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products. Its operations connect producers with domestic and international markets across key U.S. energy-producing regions.

The company’s assets include natural gas gathering and processing systems, NGL pipelines, fractionation facilities, storage assets and export terminals.