Aberdeen Group plc Purchases 5,443 Shares of Targa Resources, Inc. $TRGP

Key Points

• Aberdeen Group plc boosted its Targa Resources stake by 3.5% in Q4, buying 5,443 shares to hold 161,156 shares valued at about $29.73 million (≈0.08% ownership).
• Insider selling has been significant: company insiders sold 104,929 shares worth $24.69 million over the past 90 days, and corporate insiders now own just 1.34% of the stock.
• Analyst sentiment is bullish with a consensus "Moderate Buy" and a $252.57 target (Wells Fargo raised its target to $264), while the stock trades near its 1‑year high and pays a $4.00 annual dividend (≈1.6% yield).

Aberdeen Group plc lifted its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,156 shares of the pipeline company's stock after buying an additional 5,443 shares during the period. Aberdeen Group plc owned approximately 0.08% of Targa Resources worth $29,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Targa Resources by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company's stock valued at $3,291,012,000 after acquiring an additional 1,620,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Targa Resources during the third quarter valued at $121,426,000. Vanguard Group Inc. lifted its position in Targa Resources by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company's stock valued at $4,755,169,000 after purchasing an additional 422,075 shares in the last quarter. Merewether Investment Management LP grew its holdings in Targa Resources by 52.9% during the second quarter. Merewether Investment Management LP now owns 992,582 shares of the pipeline company's stock valued at $172,789,000 after purchasing an additional 343,319 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Targa Resources by 107.1% during the third quarter. Balyasny Asset Management L.P. now owns 588,684 shares of the pipeline company's stock valued at $98,628,000 after purchasing an additional 304,426 shares during the period. Institutional investors own 92.13% of the company's stock.

Insider Activity at Targa Resources

In related news, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total transaction of $311,618.70. Following the completion of the transaction, the director directly owned 77,094 shares of the company's stock, valued at approximately $17,677,654.20. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lindsey Cooksen sold 435 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $231.72, for a total value of $100,798.20. Following the completion of the sale, the director owned 11,670 shares in the company, valued at approximately $2,704,172.40. The trade was a 3.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,929 shares of company stock worth $24,692,134 in the last ninety days. Corporate insiders own 1.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Targa Resources from $248.00 to $264.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Scotiabank reissued an "outperform" rating on shares of Targa Resources in a report on Tuesday, February 24th. The Goldman Sachs Group restated a "buy" rating and set a $242.00 target price on shares of Targa Resources in a research note on Friday, February 20th. Barclays reissued an "overweight" rating and set a $226.00 price target on shares of Targa Resources in a report on Friday, February 20th. Finally, Weiss Ratings upgraded Targa Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.57.

Targa Resources Stock Performance

NYSE:TRGP opened at $244.57 on Monday. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $253.40. The stock's 50 day simple moving average is $228.95 and its two-hundred day simple moving average is $191.66. The company has a market cap of $52.53 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.60 and a beta of 0.81.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The company had revenue of $4.06 billion for the quarter, compared to analysts' expectations of $4.12 billion. As a group, equities analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Targa Resources's payout ratio is currently 46.57%.

Targa Resources Profile

Targa Resources Corporation NYSE: TRGP is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.

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