1,475 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,475 shares of the pipeline company’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Spirit of America Management Corp NY grew its position in Targa Resources by 7.3% in the third quarter. Spirit of America Management Corp NY now owns 61,383 shares of the pipeline company’s stock valued at $9,085,000 after purchasing an additional 4,200 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Targa Resources in the third quarter valued at approximately $29,000. Assenagon Asset Management S.A. increased its holdings in shares of Targa Resources by 36.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,841 shares of the pipeline company’s stock worth $11,077,000 after acquiring an additional 19,902 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Targa Resources by 59.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 13,840 shares of the pipeline company’s stock valued at $2,048,000 after acquiring an additional 5,143 shares during the period. Finally, Great Lakes Retirement Inc. acquired a new position in shares of Targa Resources in the third quarter valued at $547,000. Institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other news, insider Gerald R. Shrader sold 3,000 shares of Targa Resources stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the sale, the insider now directly owns 29,603 shares in the company, valued at approximately $4,027,784.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,534 shares of company stock worth $26,815,021 in the last quarter. 1.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRGP. JPMorgan Chase & Co. boosted their target price on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial raised their price objective on Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $148.36.

Targa Resources Stock Up 1.6 %

Shares of TRGP stock opened at $168.57 on Friday. The company has a market capitalization of $36.93 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.28 and a beta of 2.25. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.65 and a quick ratio of 0.53. The company’s fifty day moving average price is $151.99 and its 200-day moving average price is $133.31. Targa Resources Corp. has a one year low of $81.03 and a one year high of $169.59.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate 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 firm posted $1.44 EPS. Sell-side analysts expect that Targa Resources Corp. will post 5.92 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.78%. Targa Resources’s dividend payout ratio (DPR) is presently 63.16%.

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.