Targa Resources (NYSE:TRGP) Price Target Increased to $145.00 by Analysts at JPMorgan Chase & Co.

Targa Resources (NYSE:TRGP) had its price objective upped by JPMorgan Chase & Co. from $140.00 to $145.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

TRGP has been the topic of a number of other reports. Morgan Stanley boosted their target price on Targa Resources from $134.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, June 10th. Stifel Nicolaus lifted their target price on shares of Targa Resources from $111.00 to $130.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Truist Financial increased their price target on shares of Targa Resources from $120.00 to $125.00 and gave the company a buy rating in a research report on Monday, June 10th. The Goldman Sachs Group lifted their price objective on Targa Resources from $105.00 to $117.00 and gave the stock a buy rating in a research report on Thursday, April 4th. Finally, Mizuho increased their target price on Targa Resources from $105.00 to $130.00 and gave the company a buy rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Targa Resources presently has an average rating of Moderate Buy and a consensus price target of $129.85.

Targa Resources Stock Down 0.2 %

Shares of NYSE:TRGP opened at $131.00 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. The firm’s 50-day simple moving average is $118.69 and its 200-day simple moving average is $104.76. Targa Resources has a fifty-two week low of $74.95 and a fifty-two week high of $132.08. The company has a market cap of $29.05 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 0.76 and a beta of 2.27.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, May 2nd. The pipeline company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.28 billion. As a group, equities research analysts predict that Targa Resources will post 5.27 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.29%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, April 29th. Targa Resources’s dividend payout ratio (DPR) is presently 61.73%.

Insider Buying and Selling at Targa Resources

In other news, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the transaction, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the completion of the sale, the insider now directly owns 196,951 shares in the company, valued at approximately $23,649,876.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles R. Crisp sold 7,000 shares of Targa Resources stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $112.54, for a total value of $787,780.00. Following the completion of the transaction, the director now owns 95,471 shares in the company, valued at approximately $10,744,306.34. The disclosure for this sale can be found here. Insiders sold 52,691 shares of company stock worth $6,197,632 in the last 90 days. 1.44% of the stock is owned by company insiders.

Institutional Trading of Targa Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Addison Advisors LLC acquired a new position in shares of Targa Resources during the fourth quarter worth about $27,000. Spire Wealth Management lifted its position in Targa Resources by 2,400.0% during the 1st quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 264 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Targa Resources by 111.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 209 shares during the period. EdgeRock Capital LLC acquired a new stake in Targa Resources in the fourth quarter valued at approximately $42,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Targa Resources during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.