Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in Targa Resources Corp. (NYSE:TRGP) by 59.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,840 shares of the pipeline company’s stock after buying an additional 5,143 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Targa Resources were worth $2,048,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Buckley Wealth Management LLC lifted its holdings in shares of Targa Resources by 0.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after buying an additional 65 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Targa Resources by 9.8% in 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 in the last quarter. Fifth Third Bancorp grew its stake in shares of Targa Resources by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after purchasing an additional 89 shares during the period. Catalina Capital Group LLC increased its holdings in shares of Targa Resources by 3.4% during the 2nd quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock valued at $392,000 after purchasing an additional 99 shares in the last quarter. Finally, &PARTNERS lifted its stake in shares of Targa Resources by 1.1% in the 2nd quarter. &PARTNERS now owns 10,107 shares of the pipeline company’s stock valued at $1,302,000 after purchasing an additional 107 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on TRGP shares. Royal Bank of Canada raised their price target on shares of Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays lifted their price target on Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Morgan Stanley increased their price target on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial boosted their price objective on Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Argus upgraded Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and an average price target of $152.79.

Targa Resources Trading Down 1.5 %

Shares of TRGP opened at $165.96 on Friday. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $169.92. The stock has a market cap of $36.36 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 1.28 and a beta of 2.25. The firm’s fifty day moving average is $152.97 and its two-hundred day moving average is $133.90. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period in the previous year, the business posted $1.44 earnings per share. Research analysts forecast that Targa Resources Corp. will post 5.92 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.81%. Targa Resources’s dividend payout ratio is presently 63.16%.

Insider Buying and Selling

In other Targa Resources news, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Joe Bob Perkins sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the sale, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at approximately $6,898,969.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,534 shares of company stock worth $26,815,021. 1.39% of the stock is owned by corporate insiders.

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.