Kovitz Investment Group Partners LLC lowered its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,199 shares of the pipeline company's stock after selling 1,933 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Targa Resources were worth $5,212,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Atala Financial Inc bought a new stake in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Rakuten Securities Inc. increased its stake in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after purchasing an additional 146 shares during the last quarter. Mizuho Bank Ltd. bought a new position in shares of Targa Resources during the 4th quarter valued at $36,000. Aspect Partners LLC lifted its stake in shares of Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company's stock valued at $39,000 after purchasing an additional 130 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after purchasing an additional 89 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Targa Resources
In other Targa Resources news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the transaction, the insider now owns 82,139 shares in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Company insiders own 1.34% of the company's stock.
Targa Resources Price Performance
Shares of Targa Resources stock traded down $8.67 during midday trading on Thursday, hitting $162.23. 3,151,588 shares of the company were exchanged, compared to its average volume of 1,744,367. The firm has a 50 day simple moving average of $183.83 and a 200-day simple moving average of $188.15. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market cap of $35.30 billion, a P/E ratio of 28.26, a PEG ratio of 0.61 and a beta of 1.75. Targa Resources Corp. has a 52 week low of $110.09 and a 52 week high of $218.51.
Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.
Targa Resources Dividend Announcement
The business also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is 69.69%.
Analyst Upgrades and Downgrades
TRGP has been the topic of several recent research reports. Truist Financial raised their target price on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Barclays reduced their target price on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Scotiabank lowered their price target on Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating on the stock in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Finally, Citigroup raised their target price on shares of Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $209.29.
Check Out Our Latest Research Report on TRGP
Targa Resources Company Profile
(
Free Report)
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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