Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP raised its position in shares of Targa Resources Corp. (NYSE:TRGP) by 78.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,425 shares of the pipeline company’s stock after acquiring an additional 16,836 shares during the quarter. Targa Resources makes up about 0.6% of Entropy Technologies LP’s holdings, making the stock its 25th largest holding. Entropy Technologies LP’s holdings in Targa Resources were worth $5,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Targa Resources by 0.8% in the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company’s stock valued at $3,025,521,000 after purchasing an additional 201,817 shares during the last quarter. Caxton Associates LP acquired a new stake in Targa Resources during the second quarter worth $2,323,000. Cetera Investment Advisers increased its stake in Targa Resources by 215.2% during the first quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock worth $3,478,000 after acquiring an additional 21,200 shares during the last quarter. Virtu Financial LLC acquired a new stake in Targa Resources during the first quarter worth $1,151,000. Finally, California State Teachers Retirement System increased its stake in Targa Resources by 6.5% during the first quarter. California State Teachers Retirement System now owns 444,530 shares of the pipeline company’s stock worth $49,783,000 after acquiring an additional 27,164 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the sale, the insider now owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares of the company’s stock, valued at $17,181,399.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Muraro sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the sale, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Targa Resources Stock Up 1.4 %

TRGP opened at $194.96 on Tuesday. The business’s 50-day simple moving average is $158.92 and its 200-day simple moving average is $138.39. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.53 and a current ratio of 0.77. Targa Resources Corp. has a one year low of $81.03 and a one year high of $196.60. The stock has a market capitalization of $42.51 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 1.49 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for 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 firm posted $0.97 EPS. Analysts anticipate that Targa Resources Corp. will post 6.19 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

Analysts Set New Price Targets

TRGP has been the subject of several recent analyst reports. Truist Financial raised their target price on Targa Resources from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Scotiabank raised their price target on Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 17th. Bank of America began coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 price target for the company. Argus upgraded Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays raised their price target on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.