2,558 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Naples Money Management LLC

Naples Money Management LLC bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, Holdings Channel reports. The firm bought 2,558 shares of the pipeline company’s stock, valued at approximately $222,000.

A number of other large investors also recently bought and sold shares of the business. Harbour Investments Inc. increased its stake in shares of Targa Resources by 51.3% during the third quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock valued at $31,000 after buying an additional 121 shares during the period. VisionPoint Advisory Group LLC increased its position in Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 209 shares during the period. Quarry LP bought a new stake in shares of Targa Resources in the 1st quarter valued at about $33,000. Rational Advisors LLC purchased a new stake in shares of Targa Resources in the 3rd quarter worth approximately $43,000. Finally, Huntington National Bank boosted its stake in shares of Targa Resources by 124.4% during the third quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling

In other news, insider D. Scott Pryor sold 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the sale, the insider now directly owns 156,098 shares of the company’s stock, valued at approximately $15,141,506. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider D. Scott Pryor sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $97.00, for a total value of $970,000.00. Following the sale, the insider now owns 156,098 shares in the company, valued at $15,141,506. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jennifer R. Kneale sold 26,061 shares of Targa Resources stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.36, for a total value of $2,537,298.96. Following the transaction, the chief financial officer now owns 227,663 shares of the company’s stock, valued at $22,165,269.68. The disclosure for this sale can be found here. Insiders sold 81,966 shares of company stock valued at $7,987,215 over the last quarter. 1.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Mizuho boosted their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Citigroup upped their price objective on Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Truist Financial increased their price target on shares of Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada raised their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $117.92.

Targa Resources Stock Performance

Targa Resources stock traded up $1.13 during mid-day trading on Friday, reaching $112.91. 1,518,420 shares of the company traded hands, compared to its average volume of 1,746,291. Targa Resources Corp. has a fifty-two week low of $67.36 and a fifty-two week high of $117.61. The firm’s fifty day moving average is $105.34 and its two-hundred day moving average is $92.49. 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 $25.13 billion, a price-to-earnings ratio of 30.46 and a beta of 2.21.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.50 billion. On average, equities research analysts expect that Targa Resources Corp. will post 5.77 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources’s dividend payout ratio (DPR) is presently 54.50%.

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.