1,333 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Graypoint LLC

Graypoint LLC acquired a new position in Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,333 shares of the pipeline company’s stock, valued at approximately $238,000.

Several other institutional investors also recently bought and sold shares of the company. Buckley Wealth Management LLC boosted its holdings in Targa Resources by 0.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock worth $1,469,000 after buying an additional 65 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after purchasing an additional 66 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 83 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 84 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 89 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other news, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the sale, the insider now owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Targa Resources Stock Up 0.8 %

Shares of NYSE TRGP opened at $193.59 on Monday. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 0.73 and a beta of 2.30. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The business’s 50 day moving average is $189.18 and its two-hundred day moving average is $161.27.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the company earned $0.97 earnings per share. Research analysts predict that Targa Resources Corp. will post 6.26 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial lowered their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Morgan Stanley boosted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Scotiabank assumed coverage on Targa Resources in a report on Friday. They set a “sector outperform” rating and a $218.00 target price on the stock. UBS Group boosted their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays upped their price objective on Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $186.86.

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.