Diversified Trust Co. Invests $486,000 in Targa Resources, Inc. $TRGP

Diversified Trust Co. acquired a new stake in Targa Resources, Inc. (NYSE:TRGP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,633 shares of the pipeline company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peoples Financial Services CORP. purchased a new stake in Targa Resources during the 3rd quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Targa Resources in the 3rd quarter valued at about $39,000. Avion Wealth boosted its stake in shares of Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after buying an additional 228 shares during the period. First Horizon Corp acquired a new position in shares of Targa Resources during the third quarter worth about $47,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Targa Resources during the second quarter worth about $53,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRGP shares. Citigroup raised their target price on shares of Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. UBS Group boosted their price target on shares of Targa Resources from $228.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Truist Financial began coverage on shares of Targa Resources in a research report on Tuesday, March 24th. They issued a “buy” rating and a $279.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $241.00 price objective on shares of Targa Resources in a report on Friday, February 20th. Finally, Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.57.

Insider Buying and Selling at Targa Resources

In related news, Director Charles R. Crisp sold 1,359 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total value of $311,618.70. Following the transaction, the director directly owned 77,094 shares of the company’s stock, valued at $17,677,654.20. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 17,500 shares of Targa Resources stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the sale, the insider owned 31,938 shares in the company, valued at $7,311,246.96. This represents a 35.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is owned by insiders.

Targa Resources Trading Up 0.0%

TRGP opened at $250.57 on Friday. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $253.40. The company has a market cap of $53.86 billion, a P/E ratio of 29.17, a PEG ratio of 1.64 and a beta of 0.84. The business’s 50-day simple moving average is $223.17 and its 200-day simple moving average is $188.60.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. As a group, equities research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Targa Resources’s dividend payout ratio (DPR) is presently 46.57%.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.