Julie H. Boushka Sells 3,260 Shares of Targa Resources Corp. (NYSE:TRGP) Stock

Targa Resources Corp. (NYSE:TRGP) CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at $6,703,175.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Targa Resources Stock Down 0.3 %

Shares of TRGP traded down $0.65 during mid-day trading on Tuesday, hitting $194.31. 1,081,338 shares of the company traded hands, compared to its average volume of 1,651,372. Targa Resources Corp. has a 1-year low of $81.03 and a 1-year high of $197.14. The business has a 50 day moving average of $159.88 and a 200 day moving average of $138.94. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $42.37 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 1.49 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities research analysts anticipate that Targa Resources Corp. will post 6.19 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Hedge Funds Weigh In On Targa Resources

Large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its position in shares of Targa Resources by 209.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 8,205 shares of the pipeline company’s stock worth $919,000 after buying an additional 5,555 shares in the last quarter. US Bancorp DE grew its holdings in shares of Targa Resources by 5.6% during the first quarter. US Bancorp DE now owns 20,923 shares of the pipeline company’s stock valued at $2,343,000 after buying an additional 1,113 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Targa Resources by 5.4% during the first quarter. Bleakley Financial Group LLC now owns 7,469 shares of the pipeline company’s stock valued at $836,000 after purchasing an additional 380 shares during the period. Entropy Technologies LP purchased a new stake in shares of Targa Resources in the first quarter worth $1,491,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Targa Resources by 5.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 20,618 shares of the pipeline company’s stock valued at $2,309,000 after acquiring an additional 1,066 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TRGP shares. Truist Financial upped their target price on Targa Resources from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday. Barclays lifted their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank upped their price target on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their target price on shares of Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Targa Resources has an average rating of “Buy” and a consensus target price of $159.14.

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.