Targa Resources, Inc. $TRGP Stock Position Lifted by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Targa Resources by 48.6% in Q4 to 31,275 shares (about $5.79 million), and institutional investors now own 92.13% of the stock.
• Targa Resources raised its quarterly dividend to $1.25 per share (annualized $5.00) for a yield of roughly 2.1%, up from the prior $1.00 quarterly payout.
• The company reported Q4 EPS of $2.51, topping estimates, and analysts maintain a positive view with a "Moderate Buy" consensus and a ~$259.93 price target.

B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 48.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,275 shares of the pipeline company's stock after purchasing an additional 10,222 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Targa Resources were worth $5,785,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRGP. Olistico Wealth LLC purchased a new position in Targa Resources during the fourth quarter valued at approximately $27,000. Peoples Financial Services CORP. purchased a new position in Targa Resources during the third quarter valued at approximately $34,000. Root Financial Partners LLC purchased a new position in Targa Resources during the third quarter valued at approximately $39,000. Eagle Bay Advisors LLC purchased a new position in Targa Resources during the fourth quarter valued at approximately $42,000. Finally, Avion Wealth grew its position in Targa Resources by 475.0% during the third quarter. Avion Wealth now owns 276 shares of the pipeline company's stock valued at $46,000 after purchasing an additional 228 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

TRGP stock opened at $240.12 on Friday. 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 company has a market capitalization of $51.58 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.53 and a beta of 0.81. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $253.87. The firm has a 50 day moving average of $238.41 and a two-hundred day moving average of $198.34.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. As a group, equities analysts anticipate that Targa Resources, Inc. will post 10.31 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Targa Resources's previous quarterly dividend of $1.00. Targa Resources's payout ratio is currently 46.57%.

Wall Street Analyst Weigh In

Several research firms have commented on TRGP. BMO Capital Markets reissued an "outperform" rating and issued a $241.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Wells Fargo & Company boosted their target price on shares of Targa Resources from $248.00 to $264.00 and gave the stock an "overweight" rating in a research report on Friday, March 13th. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $242.00 to $268.00 and gave the stock a "buy" rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Targa Resources from $213.00 to $243.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Finally, Truist Financial boosted their target price on shares of Targa Resources from $279.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $259.93.

Insider Buying and Selling at Targa Resources

In related news, insider D. Scott Pryor sold 17,500 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the completion of the sale, the insider directly owned 31,938 shares of the company's stock, valued at approximately $7,311,246.96. This represents a 35.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick J. Mcdonie sold 31,537 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the sale, the insider directly owned 305,163 shares of the company's stock, valued at approximately $73,043,815.68. This represents a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,929 shares of company stock worth $24,692,134 in the last quarter. 1.37% of the stock is owned by corporate insiders.

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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