AMJ Financial Wealth Management Has $3.92 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

AMJ Financial Wealth Management boosted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,945 shares of the pipeline company’s stock after purchasing an additional 1,268 shares during the period. AMJ Financial Wealth Management’s holdings in Targa Resources were worth $3,917,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRGP. Bahl & Gaynor Inc. lifted its holdings in shares of Targa Resources by 8.1% during the fourth quarter. Bahl & Gaynor Inc. now owns 876,099 shares of the pipeline company’s stock valued at $156,384,000 after acquiring an additional 65,346 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Targa Resources by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock worth $261,344,000 after purchasing an additional 38,723 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Targa Resources during the 4th quarter valued at about $88,000. Jones Financial Companies Lllp boosted its position in Targa Resources by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,545 shares of the pipeline company’s stock valued at $276,000 after buying an additional 264 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Targa Resources by 23.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,738 shares of the pipeline company’s stock worth $487,000 after buying an additional 520 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares in the company, valued at approximately $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.39% of the company’s stock.

Targa Resources Trading Down 3.1 %

TRGP opened at $195.49 on Tuesday. Targa Resources Corp. has a fifty-two week low of $99.04 and a fifty-two week high of $218.51. The company has a market cap of $42.64 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a 50 day simple moving average of $198.29 and a 200 day simple moving average of $179.02.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. On average, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 52.26%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price objective on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial decreased their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Mizuho lifted their price target on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Barclays increased their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $207.00.

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.