iSAM Funds UK Ltd Takes $810,000 Position in Targa Resources Corp. (NYSE:TRGP)

iSAM Funds UK Ltd bought a new stake in Targa Resources Corp. (NYSE:TRGP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,473 shares of the pipeline company’s stock, valued at approximately $810,000.

A number of other institutional investors also recently modified their holdings of TRGP. Cetera Investment Advisers boosted its position in shares of Targa Resources by 215.2% in the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock valued at $3,478,000 after acquiring an additional 21,200 shares during the period. Cetera Advisors LLC boosted its position in shares of Targa Resources by 166.9% in the first quarter. Cetera Advisors LLC now owns 6,453 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 4,035 shares during the period. CWM LLC boosted its position in shares of Targa Resources by 9.5% in the second quarter. CWM LLC now owns 4,999 shares of the pipeline company’s stock valued at $644,000 after acquiring an additional 432 shares during the period. Czech National Bank boosted its position in shares of Targa Resources by 7.7% in the second quarter. Czech National Bank now owns 42,251 shares of the pipeline company’s stock valued at $5,441,000 after acquiring an additional 3,019 shares during the period. Finally, Perkins Coie Trust Co bought a new stake in shares of Targa Resources in the second quarter valued at about $258,000. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Targa Resources from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, November 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 report on Wednesday, November 6th. Barclays upped their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $176.50.

Targa Resources Stock Down 2.0 %

TRGP stock opened at $194.34 on Friday. The stock has a market capitalization of $42.38 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 0.77 and a beta of 2.28. 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 12 month low of $81.03 and a 12 month high of $209.87. The firm has a 50-day moving average price of $178.78 and a 200-day moving average price of $149.80.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, equities research analysts anticipate that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Thursday, October 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Insider Activity

In other news, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This represents a 57.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,260 shares of company stock valued at $29,661,212 over the last quarter. 1.39% of the stock is owned by company 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.