V Square Quantitative Management LLC Sells 100 Shares of Targa Resources Corp. (NYSE:TRGP)

V Square Quantitative Management LLC cut its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,031 shares of the pipeline company’s stock after selling 100 shares during the quarter. V Square Quantitative Management LLC’s holdings in Targa Resources were worth $597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TRGP. Strategic Investment Solutions Inc. IL bought a new position in shares of Targa Resources in the second quarter valued at $29,000. UMB Bank n.a. lifted its stake in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Targa Resources in the second quarter valued at $44,000. Register Financial Advisors LLC bought a new position in shares of Targa Resources in the first quarter valued at $45,000. Finally, Rogco LP purchased a new stake in shares of Targa Resources in the first quarter valued at about $56,000. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the transaction, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at $6,898,969.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul W. Chung sold 916 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total value of $124,896.60. Following the completion of the sale, the director now owns 238,591 shares of the company’s stock, valued at approximately $32,531,882.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the completion of the sale, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,534 shares of company stock worth $26,815,021 over the last three months. 1.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRGP. Scotiabank increased their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada increased their target price on shares of Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays increased their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial increased their target price on shares of Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company increased their target price on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $148.36.

Targa Resources Price Performance

TRGP stock opened at $162.75 on Friday. The firm has a 50 day moving average of $150.42 and a 200-day moving average of $132.29. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $167.79. The firm has a market capitalization of $36.08 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 1.32 and a beta of 2.25.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the business earned $1.44 earnings per share. As a group, sell-side analysts predict that Targa Resources Corp. will post 5.9 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.84%. Targa Resources’s dividend payout ratio (DPR) is currently 61.73%.

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.