Targa Resources Corp. (NYSE:TRGP – Get Free Report) insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $90.03, for a total transaction of $900,300.00. Following the completion of the transaction, the insider now owns 187,021 shares of the company’s stock, valued at $16,837,500.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Targa Resources Stock Performance
NYSE TRGP opened at $85.53 on Wednesday. The company’s 50 day moving average is $85.33 and its 200-day moving average is $79.20. Targa Resources Corp. has a 12-month low of $64.85 and a 12-month high of $90.64. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 2.81. The firm has a market cap of $19.13 billion, a P/E ratio of 23.18 and a beta of 2.27.
Targa Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, October 30th. Targa Resources’s dividend payout ratio (DPR) is presently 54.20%.
Institutional Trading of Targa Resources
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on TRGP shares. StockNews.com started coverage on shares of Targa Resources in a research report on Thursday, October 5th. They set a “hold” rating for the company. Mizuho increased their price objective on shares of Targa Resources from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Barclays increased their price objective on shares of Targa Resources from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Morgan Stanley increased their price objective on shares of Targa Resources from $106.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 29th. Finally, Truist Financial increased their target price on shares of Targa Resources from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $104.00.
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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation.
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