New York State Teachers Retirement System Has $19.69 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

New York State Teachers Retirement System decreased its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,028 shares of the pipeline company’s stock after selling 165 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Targa Resources worth $19,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DT Investment Partners LLC bought a new stake in shares of Targa Resources in the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Targa Resources in the second quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in shares of Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Targa Resources during the 2nd quarter worth approximately $44,000. Finally, Rogco LP acquired a new position in shares of Targa Resources during the 1st quarter worth approximately $56,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP stock opened at $165.27 on Friday. The company’s 50-day moving average price is $155.23 and its two-hundred day moving average price is $135.67. The firm has a market cap of $36.21 billion, a P/E ratio of 34.79, a P/E/G ratio of 1.29 and a beta of 2.25. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $169.92.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. Targa Resources had a return on equity of 23.98% and a net margin of 6.60%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $1.44 earnings per share. On average, analysts anticipate that Targa Resources Corp. will post 5.96 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 63.16%.

Insider Buying and Selling at Targa Resources

In other news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the sale, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares in the company, valued at approximately $25,504,736.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total value of $23,329,500.00. Following the sale, the director now owns 110,470 shares in the company, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,534 shares of company stock worth $26,815,021 over the last 90 days. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TRGP shares. Morgan Stanley lifted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial increased their price target on shares of Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, August 5th. Bank of America assumed coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Finally, Barclays increased their target price on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $152.79.

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.