Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stock Position in Targa Resources, Inc. $TRGP

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 366,389 shares of the pipeline company’s stock after selling 5,152 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Targa Resources were worth $67,599,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. lifted its position in shares of Targa Resources by 10.5% during the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock worth $97,000 after buying an additional 50 shares during the last quarter. First Horizon Corp raised its position in Targa Resources by 20.1% in the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC raised its position in Targa Resources by 4.1% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 60 shares during the last quarter. Equitable Holdings Inc. raised its position in Targa Resources by 3.6% in the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock valued at $287,000 after purchasing an additional 60 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Targa Resources by 1.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 2.7%

Shares of Targa Resources stock opened at $255.14 on Friday. The company has a market cap of $54.76 billion, a P/E ratio of 25.80, a PEG ratio of 1.32 and a beta of 0.75. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $280.00. The firm has a fifty day moving average of $251.28 and a two-hundred day moving average of $216.18.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. On average, analysts forecast that Targa Resources, Inc. will post 10.67 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, April 30th. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. Targa Resources’s payout ratio is currently 50.56%.

Insiders Place Their Bets

In other news, insider Patrick J. Mcdonie sold 31,537 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the transaction, the insider directly owned 305,163 shares of the company’s stock, valued at $73,043,815.68. This represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the transaction, the insider owned 197,401 shares in the company, valued at $47,640,757.34. The trade was a 11.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 66,728 shares of company stock worth $16,196,694. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on TRGP shares. Truist Financial upped their price target on shares of Targa Resources from $285.00 to $289.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $281.00 price target on shares of Targa Resources in a research report on Tuesday, May 12th. TD Cowen upped their price target on shares of Targa Resources from $236.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, May 11th. The Goldman Sachs Group upped their price target on shares of Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus set a $268.00 price target on shares of Targa Resources in a research report on Friday, May 8th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.21.

Targa Resources Company 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.