Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 5.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 338,826 shares of the pipeline company’s stock after acquiring an additional 17,413 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Targa Resources were worth $63,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco BTG Pactual S.A. acquired a new stake in shares of Targa Resources during the fourth quarter worth about $345,000. TrueMark Investments LLC increased its stake in Targa Resources by 302.9% during the 4th quarter. TrueMark Investments LLC now owns 10,149 shares of the pipeline company’s stock worth $1,812,000 after buying an additional 7,630 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Targa Resources by 15.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,672 shares of the pipeline company’s stock worth $834,000 after buying an additional 632 shares in the last quarter. Keystone Investors PTE Ltd. purchased a new position in Targa Resources in the 4th quarter valued at approximately $220,000. Finally, Zions Bancorporation N.A. grew its stake in shares of Targa Resources by 52.4% in the fourth quarter. Zions Bancorporation N.A. now owns 10,057 shares of the pipeline company’s stock worth $1,795,000 after acquiring an additional 3,457 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Trading Down 0.7 %

Shares of TRGP stock opened at $197.69 on Friday. The company has a market capitalization of $43.12 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The business’s 50 day moving average is $199.31 and its two-hundred day moving average is $184.76. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Equities analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.52%. Targa Resources’s payout ratio is currently 52.26%.

Insider Buying and Selling at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup lifted their price objective on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. 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 note on Tuesday, March 18th. Scotiabank lowered their price target on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Finally, Morgan Stanley raised their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, thirteen have issued 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 an average price target of $211.00.

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.