Oak Thistle LLC Invests $1.36 Million in Targa Resources Corp. (NYSE:TRGP)

Oak Thistle LLC bought a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,704 shares of the pipeline company's stock, valued at approximately $1,364,000.

Several other institutional investors have also recently bought and sold shares of TRGP. Cetera Advisor Networks LLC bought a new stake in Targa Resources in the 1st quarter valued at $250,000. PNC Financial Services Group Inc. grew its stake in Targa Resources by 5.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,741 shares of the pipeline company's stock valued at $1,112,000 after buying an additional 737 shares during the last quarter. Sei Investments Co. grew its position in shares of Targa Resources by 11.6% during the 1st quarter. Sei Investments Co. now owns 186,471 shares of the pipeline company's stock worth $14,072,000 after purchasing an additional 19,372 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Targa Resources during the 1st quarter worth approximately $249,000. Finally, Covestor Ltd boosted its position in shares of Targa Resources by 91.8% during the 1st quarter. Covestor Ltd now owns 1,429 shares of the pipeline company's stock worth $108,000 after acquiring an additional 684 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Insider Activity

In other news, CAO Julie H. Boushka sold 2,500 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the completion of the sale, the chief accounting officer now directly owns 71,808 shares of the company's stock, valued at $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the completion of the sale, the chief accounting officer now directly owns 71,808 shares of the company's stock, valued at $7,012,769.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $97.31, for a total transaction of $973,100.00. Following the sale, the insider now directly owns 219,451 shares of the company's stock, valued at $21,354,776.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is currently owned by company insiders.

Targa Resources Trading Up 0.2 %

TRGP stock traded up $0.23 during mid-day trading on Monday, reaching $112.22. 1,116,116 shares of the stock traded hands, compared to its average volume of 1,720,457. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79. Targa Resources Corp. has a one year low of $67.36 and a one year high of $112.51. The stock has a market capitalization of $24.97 billion, a PE ratio of 30.58 and a beta of 2.21. The business has a 50-day moving average price of $97.94 and a two-hundred day moving average price of $89.92.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.26). Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.50 billion. Equities research analysts expect that Targa Resources Corp. will post 5.73 EPS for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, January 30th. Targa Resources's dividend payout ratio is currently 54.50%.

Wall Street Analyst Weigh In

TRGP has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an "outperform" rating in a research note on Monday, February 26th. UBS Group dropped their price target on shares of Targa Resources from $109.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, January 18th. Barclays upped their price target on shares of Targa Resources from $105.00 to $116.00 and gave the company an "overweight" rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. upped their target price on shares of Targa Resources from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. Finally, Truist Financial increased their price target on shares of Targa Resources from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $111.00.

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.