Sentry Investment Management LLC Has $103,000 Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Sentry Investment Management LLC lowered its stake in Targa Resources Corp. (NYSE:TRGP) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,181 shares of the pipeline company’s stock after selling 127 shares during the period. Sentry Investment Management LLC’s holdings in Targa Resources were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRGP. Vontobel Holding Ltd. boosted its stake in shares of Targa Resources by 22.5% during the fourth quarter. Vontobel Holding Ltd. now owns 8,163 shares of the pipeline company’s stock valued at $709,000 after purchasing an additional 1,499 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Targa Resources in the 4th quarter valued at approximately $1,173,000. NewEdge Wealth LLC boosted its position in Targa Resources by 18.4% during the 4th quarter. NewEdge Wealth LLC now owns 11,814 shares of the pipeline company’s stock worth $1,026,000 after buying an additional 1,834 shares during the period. Cerity Partners LLC grew its holdings in Targa Resources by 87.3% during the 4th quarter. Cerity Partners LLC now owns 8,899 shares of the pipeline company’s stock worth $773,000 after acquiring an additional 4,147 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Targa Resources by 40.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,030 shares of the pipeline company’s stock valued at $350,000 after acquiring an additional 1,162 shares during the period. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Targa Resources from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Mizuho upped their price target on Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays raised their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group upped their target price on Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $117.92.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total transaction of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joe Bob Perkins sold 33,405 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total value of $3,262,666.35. Following the sale, the director now owns 38,440 shares in the company, valued at approximately $3,754,434.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the completion of the transaction, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,966 shares of company stock valued at $7,987,215. Company insiders own 1.39% of the company’s stock.

Targa Resources Stock Down 0.4 %

Shares of NYSE TRGP opened at $111.78 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. The firm has a market cap of $24.88 billion, a PE ratio of 30.46 and a beta of 2.21. The company’s fifty day simple moving average is $105.34 and its 200 day simple moving average is $92.49. Targa Resources Corp. has a 12-month low of $67.36 and a 12-month high of $117.61.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.26). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. As a group, sell-side analysts forecast that Targa Resources Corp. will post 5.77 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 2.68%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio is presently 54.50%.

Targa Resources Company Profile

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.