Diversified Trust Co Buys 6,558 Shares of Targa Resources Corp. (NYSE:TRGP)

Diversified Trust Co grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 133.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,475 shares of the pipeline company’s stock after purchasing an additional 6,558 shares during the quarter. Diversified Trust Co’s holdings in Targa Resources were worth $2,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRGP. Wellington Management Group LLP lifted its stake in Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after buying an additional 633,589 shares during the period. Geode Capital Management LLC increased its stake in shares of Targa Resources by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after acquiring an additional 97,583 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock valued at $296,647,000 after acquiring an additional 271,444 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock worth $197,076,000 after acquiring an additional 14,287 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Targa Resources by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock worth $186,139,000 after acquiring an additional 96,268 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Truist Financial dropped their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Morgan Stanley raised their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Bank of America initiated coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price target for the company. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $181.43.

Targa Resources Trading Up 0.9 %

NYSE:TRGP opened at $187.76 on Wednesday. Targa Resources Corp. has a 52 week low of $81.03 and a 52 week high of $209.87. The firm has a 50-day moving average price of $187.61 and a two-hundred day moving average price of $159.92. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company posted $0.97 earnings per share. On average, equities analysts expect that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Targa Resources 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.