Three Seasons Wealth LLC Takes Position in Targa Resources Corp. (NYSE:TRGP)

Three Seasons Wealth LLC bought a new position in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 16,004 shares of the pipeline company’s stock, valued at approximately $2,857,000. Targa Resources accounts for approximately 1.4% of Three Seasons Wealth LLC’s investment portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRGP. Atala Financial Inc bought a new stake in Targa Resources in the 4th quarter valued at about $31,000. Rakuten Securities Inc. increased its holdings in shares of Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 146 shares in the last quarter. Mizuho Bank Ltd. acquired a new position in shares of Targa Resources during the fourth quarter worth approximately $36,000. Aspect Partners LLC grew its position in Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 130 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Mizuho boosted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada increased their price target on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Truist Financial lifted their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. US Capital Advisors raised shares of Targa Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Barclays cut their price target on shares of Targa Resources from $211.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $210.64.

Targa Resources Stock Up 2.6 %

TRGP stock opened at $176.87 on Friday. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51. The firm has a market capitalization of $38.48 billion, a PE ratio of 30.81, a PEG ratio of 0.61 and a beta of 1.75. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a 50-day simple moving average of $186.22 and a two-hundred day simple moving average of $187.76.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, equities analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources’s payout ratio is currently 69.69%.

Insider Activity

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.34% of the stock is currently owned by insiders.

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.