Gotham Asset Management LLC Has $978,000 Stake in Targa Resources Corp. (NYSE:TRGP)

Gotham Asset Management LLC raised its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 235.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,481 shares of the pipeline company's stock after acquiring an additional 3,845 shares during the period. Gotham Asset Management LLC's holdings in Targa Resources were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Focus Partners Wealth acquired a new position in Targa Resources during the 4th quarter valued at $273,000. FORA Capital LLC bought a new position in shares of Targa Resources during the 4th quarter worth about $203,000. Colonial Trust Co SC raised 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 valued at $29,000 after buying an additional 162 shares during the last quarter. Corigliano Investment Advisers LLC acquired a new position in shares of Targa Resources during the fourth quarter valued at about $6,813,000. Finally, Covenant Partners LLC lifted its stake in shares of Targa Resources by 100.0% in the fourth quarter. Covenant Partners LLC now owns 4,000 shares of the pipeline company's stock valued at $714,000 after buying an additional 2,000 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank of Canada cut their price target on Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Scotiabank reduced their target price on Targa Resources from $199.00 to $193.00 and set a "sector outperform" rating for the company in a research report on Tuesday. UBS Group decreased their price target on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Finally, Truist Financial increased their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $198.79.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $16,206,024.70. This represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources 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 completion of the sale, the insider now directly owns 227,269 shares of the company's stock, valued at $43,731,100.98. This trade represents a 11.62% 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 valued at $22,613,288. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Price Performance

Shares of Targa Resources stock traded down $2.81 during mid-day trading on Tuesday, reaching $161.82. 2,133,545 shares of the stock were exchanged, compared to its average volume of 1,792,129. Targa Resources Corp. has a fifty-two week low of $113.65 and a fifty-two week high of $218.51. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The firm has a 50-day simple moving average of $176.83 and a 200 day simple moving average of $188.32. 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 posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. On average, sell-side analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

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

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.