Blair William & Co. IL Has $3.47 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

Blair William & Co. IL boosted its stake in Targa Resources Corp. (NYSE:TRGP) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,416 shares of the pipeline company’s stock after buying an additional 1,126 shares during the quarter. Blair William & Co. IL’s holdings in Targa Resources were worth $3,466,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC bought a new stake in shares of Targa Resources in the 3rd quarter worth about $318,000. D.A. Davidson & CO. increased its position in Targa Resources by 8.8% in the 3rd quarter. D.A. Davidson & CO. now owns 4,952 shares of the pipeline company’s stock valued at $733,000 after acquiring an additional 402 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Targa Resources during the third quarter worth approximately $329,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Targa Resources in the 3rd quarter worth approximately $1,408,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Targa Resources by 26.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,852 shares of the pipeline company’s stock valued at $6,195,000 after buying an additional 8,848 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $200.50 on Tuesday. 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 50 day moving average price of $199.00 and a 200 day moving average price of $185.71. The stock has a market capitalization of $43.73 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51.

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

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.50%. Targa Resources’s dividend payout ratio is presently 52.26%.

Wall Street Analyst Weigh In

TRGP has been the topic of several recent research reports. Barclays raised their price target on Targa Resources from $204.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group increased their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Truist Financial upped their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada upped their price objective on Targa Resources from $220.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $211.00.

Insider Activity

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the firm’s 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 sale, the director now owns 2,899 shares of the company’s stock, valued at $568,957.74. This trade represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is owned by company insiders.

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.