Natixis Advisors LLC Has $13.57 Million Stock Holdings in Targa Resources, Inc. $TRGP

Key Points

• Natixis Advisors LLC raised its stake in Targa Resources by 20.7% in Q3 to 80,964 shares, valued at approximately $13.57 million per its SEC filing.
• Company insiders have been net sellers recently — insiders sold 104,929 shares (about $24.69 million) in the last 90 days, including notable sales by D. Scott Pryor and Robert Muraro.
• Wall Street sentiment is positive: multiple firms raised price targets (e.g., Morgan Stanley to $298, RBC to $260) and the consensus rating is a Moderate Buy with an average target of $240.79.

Natixis Advisors LLC raised its holdings in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 20.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,964 shares of the pipeline company's stock after buying an additional 13,872 shares during the period. Natixis Advisors LLC's holdings in Targa Resources were worth $13,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Peoples Financial Services CORP. acquired a new stake in shares of Targa Resources in the 3rd quarter worth about $34,000. Root Financial Partners LLC acquired a new position in Targa Resources during the 3rd quarter valued at about $39,000. Avion Wealth boosted its stake in Targa Resources by 475.0% during the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company's stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. First Horizon Corp bought a new stake in Targa Resources during the 3rd quarter worth approximately $47,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Targa Resources during the 2nd quarter worth approximately $53,000. 92.13% of the stock is owned by institutional investors.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $238.43 on Friday. The company has a market capitalization of $51.25 billion, a PE ratio of 27.76, a PEG ratio of 1.55 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. The stock's 50 day moving average price is $209.52 and its 200-day moving average price is $182.50. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $250.00.

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

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, January 30th. Targa Resources's payout ratio is presently 46.57%.

Insider Buying and Selling

In related news, insider D. Scott Pryor sold 17,500 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total value of $4,006,100.00. Following the transaction, the insider directly owned 31,938 shares of the company's stock, valued at approximately $7,311,246.96. The trade was a 35.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the transaction, the insider owned 197,401 shares of the company's stock, valued at approximately $47,640,757.34. The trade was a 11.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 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

TRGP has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on Targa Resources from $213.00 to $243.00 and gave the company a "buy" rating in a report on Friday, February 20th. Morgan Stanley upped their price target on Targa Resources from $266.00 to $298.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Royal Bank Of Canada increased their price target on Targa Resources from $218.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Citigroup raised their price objective on Targa Resources from $200.00 to $262.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Targa Resources in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of "Moderate Buy" and a consensus target price of $240.79.

Targa Resources Company 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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