Masso Torrence Wealth Management Inc. acquired a new position in shares of Targa Resources Corp. (NYSE:TRGP – Get Rating) in the 4th quarter, Holdings Channel reports. The fund acquired 563 shares of the pipeline company’s stock, valued at approximately $29,000.
Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new position in shares of Targa Resources during the fourth quarter worth about $26,000. AGF Investments LLC acquired a new position in shares of Targa Resources during the third quarter worth about $32,000. Bellwether Advisors LLC acquired a new position in shares of Targa Resources during the fourth quarter worth about $34,000. Fifth Third Bancorp boosted its position in shares of Targa Resources by 46.3% during the fourth quarter. Fifth Third Bancorp now owns 695 shares of the pipeline company’s stock worth $36,000 after buying an additional 220 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Targa Resources during the third quarter worth about $45,000. 91.93% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. Morgan Stanley increased their price target on Targa Resources from $74.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Truist Financial increased their price target on Targa Resources from $69.00 to $78.00 in a research report on Wednesday, March 2nd. Raymond James increased their price target on Targa Resources from $80.00 to $92.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 20th. Barclays increased their price target on Targa Resources from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, January 20th. Finally, TheStreet cut Targa Resources from a “b-” rating to a “c” rating in a research report on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.25.
Targa Resources (NYSE:TRGP – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The pipeline company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.69). Targa Resources had a positive return on equity of 7.74% and a negative net margin of 0.22%. During the same period in the prior year, the business posted $0.53 EPS. Sell-side analysts anticipate that Targa Resources Corp. will post 4.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Targa Resources’s dividend payout ratio (DPR) is presently -241.38%.
In other Targa Resources news, Director Joe Bob Perkins sold 27,944 shares of the firm’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $78.38, for a total value of $2,190,250.72. Following the sale, the director now owns 151,018 shares of the company’s stock, valued at approximately $11,836,790.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Muraro sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $80.10, for a total value of $801,000.00. Following the completion of the sale, the insider now directly owns 186,947 shares in the company, valued at approximately $14,974,454.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,094 shares of company stock worth $4,176,872. Corporate insiders own 1.10% of the company’s stock.
Targa Resources Company Profile (Get Rating)
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company engages 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, purchasing, storing, terminaling, and selling crude oil.
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