Czech National Bank lifted its position in Targa Resources Corp. (NYSE:TRGP – Free Report) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,281 shares of the pipeline company’s stock after purchasing an additional 2,653 shares during the quarter. Czech National Bank’s holdings in Targa Resources were worth $8,440,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of TRGP. DT Investment Partners LLC bought a new position in Targa Resources during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Targa Resources in the second quarter worth approximately $29,000. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the third quarter worth $35,000. Huntington National Bank raised its holdings in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after buying an additional 89 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Targa Resources by 36.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 532 shares of the pipeline company’s stock valued at $79,000 after buying an additional 141 shares during the period. 92.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on TRGP. Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. The Goldman Sachs Group upped their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial decreased their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Wells Fargo & Company boosted their target price on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $189.21.
Insider Activity at Targa Resources
In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.
Targa Resources Stock Up 1.7 %
Shares of Targa Resources stock opened at $200.89 on Wednesday. The company has a 50-day simple moving average of $190.21 and a two-hundred day simple moving average of $162.26. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock has a market capitalization of $43.81 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30.
Targa Resources (NYSE:TRGP – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the firm posted $0.97 EPS. On average, analysts anticipate that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.
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.
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