Axa S.A. Buys 5,073 Shares of Targa Resources Corp. (NYSE:TRGP)

AXA S.A. boosted its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 28.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,807 shares of the pipeline company's stock after acquiring an additional 5,073 shares during the quarter. AXA S.A.'s holdings in Targa Resources were worth $4,071,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRGP. Norges Bank acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $505,132,000. GQG Partners LLC bought a new position in Targa Resources in the fourth quarter valued at $393,335,000. Canada Pension Plan Investment Board increased its stake in Targa Resources by 981.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock valued at $204,223,000 after buying an additional 1,038,350 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Targa Resources during the 4th quarter worth about $150,372,000. Finally, TD Asset Management Inc. boosted its stake in shares of Targa Resources by 568.7% during the 4th quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock worth $173,212,000 after buying an additional 825,267 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Insider Transactions at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 227,269 shares of the company's stock, valued at approximately $43,731,100.98. The trade was a 11.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now directly owns 725,628 shares in the company, valued at approximately $141,555,510.24. This represents a 6.31% decrease in their ownership of the stock. 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. Company insiders own 1.34% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of recent research reports. Royal Bank of Canada lowered their target price on Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Truist Financial increased their price objective on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Scotiabank decreased their target price on shares of Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $202.93.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded up $5.61 on Tuesday, hitting $171.80. The company had a trading volume of 630,244 shares, compared to its average volume of 1,771,285. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 0.61 and a beta of 1.22. The stock has a 50 day moving average price of $178.32 and a 200 day moving average price of $188.27. Targa Resources Corp. has a 1-year low of $112.27 and a 1-year high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Analysts expect that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $1.00 dividend. This represents a dividend yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources's payout ratio is 73.66%.

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.