Targa Resources Corp. (NYSE:TRGP) Stock Position Decreased by Bard Associates Inc.

Bard Associates Inc. lowered its position in shares of Targa Resources Corp. (NYSE:TRGP) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,926 shares of the pipeline company’s stock after selling 104 shares during the period. Targa Resources accounts for 1.2% of Bard Associates Inc.’s portfolio, making the stock its 22nd biggest holding. Bard Associates Inc.’s holdings in Targa Resources were worth $3,541,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Targa Resources by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after purchasing an additional 201,817 shares during the period. Blackstone Inc. boosted its position in shares of Targa Resources by 2.7% in the first quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company’s stock valued at $1,085,794,000 after acquiring an additional 252,729 shares during the period. Dimensional Fund Advisors LP grew its position in Targa Resources by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock worth $296,647,000 after purchasing an additional 271,444 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Targa Resources by 26.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,721 shares of the pipeline company’s stock worth $194,720,000 after buying an additional 360,675 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of Targa Resources by 5.9% during the second quarter. Truist Financial Corp now owns 838,714 shares of the pipeline company’s stock valued at $108,010,000 after purchasing an additional 46,864 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TRGP. Bank of America assumed coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays boosted their price target 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. Wells Fargo & Company upped their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Truist Financial lifted their target price on shares of Targa Resources from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $159.14.

Targa Resources Stock Performance

TRGP stock opened at $191.57 on Friday. The stock has a 50-day moving average price of $161.69 and a 200-day moving average price of $139.86. The firm has a market cap of $41.77 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $197.14.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $0.97 earnings per share. As a group, equities research analysts expect that Targa Resources Corp. will post 6.19 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.57%. Targa Resources’s dividend payout ratio is 54.25%.

Insider Activity

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now owns 110,470 shares of the company’s stock, valued at $17,181,399.10. The trade was a 57.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,760 shares of company stock valued at $30,026,712. Corporate insiders own 1.39% of the company’s stock.

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.