3,220 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. bought a new position in Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,220 shares of the pipeline company’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Colonial Trust Co SC boosted its position in Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Atala Financial Inc acquired a new position in shares of Targa Resources during the fourth quarter valued at $31,000. Cary Street Partners Financial LLC bought a new position in shares of Targa Resources during the fourth quarter worth about $31,000. Rakuten Securities Inc. grew its position 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 worth $33,000 after acquiring an additional 146 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Targa Resources in the 4th quarter worth about $36,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on TRGP shares. Truist Financial upped their target price on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. US Capital Advisors upgraded Targa Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Mizuho reduced their price target on Targa Resources from $226.00 to $218.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Citigroup lowered their price target on Targa Resources from $227.00 to $197.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, UBS Group reduced their price objective on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a report on Thursday. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $201.64.

Insiders Place Their Bets

In related news, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the sale, the insider now directly owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. This represents a 11.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the sale, the chief executive officer now owns 725,628 shares of the company’s stock, valued at $141,555,510.24. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,914 shares of company stock worth $22,613,288. Company insiders own 1.34% of the company’s stock.

Targa Resources Trading Down 1.2%

Shares of NYSE:TRGP opened at $166.62 on Friday. 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 $36.15 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 1-year low of $113.65 and a 1-year high of $218.51. The company has a 50 day moving average price of $177.59 and a 200 day moving average price of $188.02.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $1.00 dividend. The ex-dividend date was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources’s dividend payout ratio is currently 73.66%.

About Targa Resources

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.