V Square Quantitative Management LLC Sells 504 Shares of Targa Resources Corp. (NYSE:TRGP)

V Square Quantitative Management LLC decreased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,131 shares of the pipeline company’s stock after selling 504 shares during the quarter. V Square Quantitative Management LLC’s holdings in Targa Resources were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Spire Wealth Management raised its holdings in Targa Resources by 2,400.0% during the first quarter. Spire Wealth Management now owns 275 shares of the pipeline company’s stock worth $31,000 after buying an additional 264 shares during the last quarter. Addison Advisors LLC bought a new position in Targa Resources in the 4th quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in Targa Resources during the 1st quarter valued at about $45,000. EdgeRock Capital LLC bought a new stake in Targa Resources during the 4th quarter worth approximately $42,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth approximately $43,000. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $140.16 on Thursday. The company’s fifty day moving average price is $130.45 and its 200-day moving average price is $115.25. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.11 and a beta of 2.27. Targa Resources Corp. has a one year low of $77.97 and a one year high of $140.25. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.65 and a quick ratio of 0.53.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $1.44 EPS. On average, equities research analysts anticipate that Targa Resources Corp. will post 5.67 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, July 31st. Targa Resources’s dividend payout ratio is currently 61.73%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TRGP. The Goldman Sachs Group lifted their target price on Targa Resources from $132.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial boosted their price target on shares of Targa Resources from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of Targa Resources from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank boosted their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their target price on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and an average target price of $140.54.

Insider Activity at Targa Resources

In other Targa Resources news, Director Paul W. Chung sold 5,264 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $138.03, for a total transaction of $726,589.92. Following the completion of the sale, the director now owns 232,827 shares of the company’s stock, valued at approximately $32,137,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Robert Muraro sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $120.08, for a total value of $1,200,800.00. Following the completion of the sale, the insider now directly owns 196,951 shares of the company’s stock, valued at approximately $23,649,876.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul W. Chung sold 5,264 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $138.03, for a total transaction of $726,589.92. Following the completion of the sale, the director now directly owns 232,827 shares of the company’s stock, valued at $32,137,110.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,034 shares of company stock valued at $5,623,890. Insiders own 1.39% of the company’s stock.

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.