Waters S. Iv Davis Sells 2,190 Shares of Targa Resources Corp. (NYSE:TRGP) Stock

Targa Resources Corp. (NYSE:TRGP) Director Waters S. Iv Davis sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the transaction, the director now directly owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Targa Resources Price Performance

TRGP opened at $201.02 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1 year low of $97.29 and a 1 year high of $218.51. The stock’s 50 day simple moving average is $197.95 and its 200 day simple moving average is $178.09. The firm has a market cap of $43.84 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.48 billion. As a group, analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is 52.26%.

Analyst Ratings Changes

TRGP has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Stifel Nicolaus upped their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Truist Financial decreased their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Barclays upped their target price on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and an average price target of $205.43.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TRGP. Colonial Trust Co SC grew its position in shares of Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Cary Street Partners Financial LLC bought a new stake in shares of Targa Resources during the 4th quarter worth approximately $31,000. Ameriflex Group Inc. bought a new stake in shares of Targa Resources during the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. increased its holdings in Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 146 shares during the period. Institutional investors own 92.13% 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.