Pinkerton Retirement Specialists LLC Increases Stake in Targa Resources Corp. (NYSE:TRGP)

Pinkerton Retirement Specialists LLC raised its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 172.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,727 shares of the pipeline company's stock after buying an additional 2,995 shares during the quarter. Pinkerton Retirement Specialists LLC's holdings in Targa Resources were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TRGP. Atomi Financial Group Inc. purchased a new position in shares of Targa Resources in the fourth quarter valued at $271,000. Affinity Wealth Management LLC grew its holdings in shares of Targa Resources by 117.4% in the fourth 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 in the last quarter. Barclays PLC grew its holdings in shares of Targa Resources by 19.5% in the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after purchasing an additional 168,602 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new position in shares of Targa Resources in the fourth quarter valued at $339,000. Finally, Americana Partners LLC grew its holdings in shares of Targa Resources by 554.6% in the fourth quarter. Americana Partners LLC now owns 73,136 shares of the pipeline company's stock valued at $13,055,000 after purchasing an additional 61,964 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Stock Down 1.0%

NYSE:TRGP opened at $160.37 on Thursday. Targa Resources Corp. has a twelve month low of $113.65 and a twelve month high of $218.51. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The stock has a fifty day simple moving average of $175.82 and a 200-day simple moving average of $187.95. 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 released its earnings results 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). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRGP shares. Truist Financial raised their target price 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. Morgan Stanley raised their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. UBS Group cut their target price on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Wells Fargo & Company raised their price target on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average price target of $198.79.

Insider Transactions at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at $43,731,100.98. The trade was a 11.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the sale, the director now owns 2,899 shares of the company's stock, valued at $568,957.74. The trade was a 43.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock worth $22,613,288. 1.34% of the stock is currently owned by insiders.

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.

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