Values First Advisors Inc. Has $496,000 Position in Targa Resources Corp. (NYSE:TRGP)

Values First Advisors Inc. lowered its holdings in Targa Resources Corp. (NYSE:TRGP) by 35.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,711 shares of the pipeline company’s stock after selling 3,141 shares during the quarter. Values First Advisors Inc.’s holdings in Targa Resources were worth $496,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Glenview Trust Co lifted its stake in Targa Resources by 4.4% during the 2nd quarter. Glenview Trust Co now owns 2,894 shares of the pipeline company’s stock valued at $220,000 after acquiring an additional 121 shares in the last quarter. Harbour Investments Inc. lifted its stake in Targa Resources by 51.3% during the 3rd quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 121 shares in the last quarter. Chilton Capital Management LLC lifted its stake in Targa Resources by 11.7% during the 2nd quarter. Chilton Capital Management LLC now owns 1,186 shares of the pipeline company’s stock valued at $90,000 after acquiring an additional 124 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Targa Resources by 2.1% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,125 shares of the pipeline company’s stock valued at $466,000 after acquiring an additional 128 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Targa Resources by 5.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,960 shares of the pipeline company’s stock valued at $225,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP stock traded up $0.94 during mid-day trading on Thursday, reaching $111.99. 1,553,304 shares of the company traded hands, compared to its average volume of 1,730,365. Targa Resources Corp. has a 52-week low of $67.36 and a 52-week high of $112.50. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The company has a market capitalization of $24.92 billion, a P/E ratio of 30.51 and a beta of 2.20. The company has a fifty day moving average price of $96.19 and a 200-day moving average price of $89.32.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. As a group, analysts anticipate that Targa Resources Corp. will post 5.73 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, January 30th. Targa Resources’s payout ratio is 54.50%.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent analyst reports. Royal Bank of Canada raised their price objective on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Truist Financial lifted their target price on Targa Resources from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. UBS Group lowered their target price on Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Citigroup lifted their target price on Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.00.

Insider Transactions at Targa Resources

In related news, CAO Julie H. Boushka sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the sale, the chief accounting officer now owns 71,808 shares in the company, valued at approximately $7,012,769.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Julie H. Boushka sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the completion of the sale, the chief accounting officer now owns 71,808 shares in the company, valued at approximately $7,012,769.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joe Bob Perkins sold 33,405 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total value of $3,262,666.35. Following the completion of the sale, the director now owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,966 shares of company stock valued at $7,987,215. 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.