Argus Investors Counsel Inc. Has $931,000 Position in Targa Resources Corp. (NYSE:TRGP)

Argus Investors Counsel Inc. trimmed its position in shares of Targa Resources Corp. (NYSE:TRGP) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,216 shares of the pipeline company’s stock after selling 182 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Targa Resources were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Cetera Investment Advisers grew its holdings in Targa Resources by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock worth $4,188,000 after acquiring an additional 1,467 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Targa Resources in the second quarter worth $1,992,000. Park Avenue Securities LLC acquired a new stake in Targa Resources in the third quarter valued at $242,000. Czech National Bank raised its position in Targa Resources by 5.6% during the 3rd quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock worth $6,605,000 after purchasing an additional 2,377 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Targa Resources by 42.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,440 shares of the pipeline company’s stock worth $509,000 after buying an additional 1,026 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRGP has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Truist Financial decreased their target price on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $189.21.

Targa Resources Trading Up 2.2 %

NYSE TRGP opened at $204.17 on Thursday. Targa Resources Corp. has a 52 week low of $85.41 and a 52 week high of $218.51. The business has a 50 day moving average price of $193.13 and a 200-day moving average price of $170.03. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market cap of $44.52 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 0.59 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, equities analysts expect that Targa Resources Corp. will post 6.41 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.47%. Targa Resources’s payout ratio is 54.25%.

Insider Activity at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares in the company, valued at $15,793,393.07. The trade was a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is owned by 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.