International Assets Investment Management LLC Has $7.80 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

International Assets Investment Management LLC boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 15,867.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 89,737 shares of the pipeline company’s stock after buying an additional 89,175 shares during the period. International Assets Investment Management LLC’s holdings in Targa Resources were worth $7,795,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC raised its holdings in shares of Targa Resources by 111.2% during the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 209 shares during the period. Rational Advisors LLC acquired a new stake in shares of Targa Resources in the 3rd quarter valued at about $43,000. Huntington National Bank raised its stake in shares of Targa Resources by 124.4% in the 3rd quarter. Huntington National Bank now owns 534 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 296 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Targa Resources by 36.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 150 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Targa Resources by 77.5% during the third quarter. EverSource Wealth Advisors LLC now owns 850 shares of the pipeline company’s stock worth $73,000 after buying an additional 371 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Price Performance

Shares of TRGP opened at $112.80 on Tuesday. The firm has a market capitalization of $25.01 billion, a PE ratio of 23.21 and a beta of 2.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. The company’s 50-day moving average is $110.33 and its 200-day moving average is $95.16. Targa Resources Corp. has a fifty-two week low of $67.36 and a fifty-two week high of $117.87.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.26). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Equities analysts forecast that Targa Resources Corp. will post 5.72 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources’s dividend payout ratio (DPR) is currently 61.73%.

Wall Street Analyst Weigh In

TRGP has been the topic of several research reports. Truist Financial boosted their target price on Targa Resources from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Citigroup boosted their price target on shares of Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Barclays raised their price objective on Targa Resources from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Scotiabank upped their target price on Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada raised their price target on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.92.

Insider Buying and Selling at Targa Resources

In related news, Director Joe Bob Perkins sold 33,405 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total value of $3,262,666.35. Following the completion of the sale, the director now directly owns 38,440 shares in the company, valued at $3,754,434.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Joe Bob Perkins sold 33,405 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the sale, the director now owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the transaction, the insider now owns 156,098 shares of the company’s stock, valued at $15,141,506. The disclosure for this sale can be found here. Insiders sold 81,966 shares of company stock valued at $7,987,215 in the last quarter. Company insiders own 1.44% of the company’s stock.

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.