Targa Resources Corp. (NYSE:TRGP) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,378 shares of the pipeline company's stock after buying an additional 7,013 shares during the quarter. Voloridge Investment Management LLC's holdings in Targa Resources were worth $11,313,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its position in Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after buying an additional 53 shares in the last quarter. Fisher Asset Management LLC grew its position in Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after buying an additional 67 shares in the last quarter. Mather Group LLC. grew its position in Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after buying an additional 68 shares in the last quarter. Keybank National Association OH boosted its holdings in Targa Resources by 0.4% during the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after purchasing an additional 70 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its stake in shares of Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock valued at $1,648,000 after purchasing an additional 74 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Performance

Shares of Targa Resources stock traded down $1.56 on Friday, hitting $156.94. 738,805 shares of the company's stock were exchanged, compared to its average volume of 1,798,888. The company has a 50-day simple moving average of $171.18 and a 200-day simple moving average of $186.92. The stock has a market capitalization of $34.04 billion, a PE ratio of 27.39, a PEG ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 1 year low of $114.51 and a 1 year high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

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 analysts' consensus estimates of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. As a group, equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business 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 dividend payout ratio is currently 73.66%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Targa Resources in a research note on Tuesday, May 20th. Morgan Stanley boosted their target price on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Truist Financial upped their price objective on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Barclays decreased their target price on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their target price on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $198.79.

Targa Resources 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.