9,881 Shares in Targa Resources Corp. (NYSE:TRGP) Purchased by Nomura Holdings Inc.

Nomura Holdings Inc. acquired a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,881 shares of the pipeline company's stock, valued at approximately $1,764,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Atomi Financial Group Inc. bought a new position in Targa Resources during the fourth quarter worth $271,000. Segment Wealth Management LLC lifted its holdings in shares of Targa Resources by 2,753.4% in the 4th quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock worth $9,876,000 after purchasing an additional 53,389 shares during the last quarter. Affinity Wealth Management LLC boosted its position in Targa Resources by 117.4% during the 4th quarter. Affinity Wealth Management LLC now owns 5,341 shares of the pipeline company's stock valued at $953,000 after purchasing an additional 2,884 shares during the period. Barclays PLC increased its position in Targa Resources by 19.5% in the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock worth $153,124,000 after buying an additional 168,602 shares during the period. Finally, Sustainable Insight Capital Management LLC acquired a new stake in Targa Resources in the fourth quarter worth $339,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Trading Down 1.7%

Shares of TRGP traded down $2.81 during trading hours on Tuesday, reaching $161.82. 2,133,545 shares of the company traded hands, compared to its average volume of 1,792,129. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company's fifty day moving average price is $176.83 and its two-hundred day moving average price is $188.32. The company has a market capitalization 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. Targa Resources Corp. has a 12 month low of $113.65 and a 12 month high of $218.51.

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

Targa Resources Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid 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%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRGP. Barclays decreased their price objective on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. 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 report on Tuesday, March 18th. The Goldman Sachs Group cut their target price on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Scotiabank decreased their price target on shares of Targa Resources from $199.00 to $193.00 and set a "sector outperform" rating for the company in a report on Tuesday. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Targa Resources has a consensus rating of "Buy" and a consensus target price of $198.79.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $197.30, for a total value of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares in the company, valued at approximately $16,206,024.70. The trade was a 29.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value 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. The trade was a 6.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock valued at $22,613,288 in the last ninety days. Corporate insiders own 1.34% of the company's stock.

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.