Cambiar Investors LLC Sells 23,981 Shares of Targa Resources Corp. (NYSE:TRGP)

Cambiar Investors LLC trimmed its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,602 shares of the pipeline company's stock after selling 23,981 shares during the period. Cambiar Investors LLC owned approximately 0.05% of Targa Resources worth $10,216,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRGP. Harbour Investments Inc. raised its stake in shares of Targa Resources by 51.3% in the third quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company's stock worth $31,000 after purchasing an additional 121 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Targa Resources by 2.1% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,125 shares of the pipeline company's stock valued at $466,000 after purchasing an additional 128 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Targa Resources by 5.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,960 shares of the pipeline company's stock worth $225,000 after acquiring an additional 140 shares during the last quarter. Ballentine Partners LLC raised its stake in Targa Resources by 4.4% in the third quarter. Ballentine Partners LLC now owns 3,370 shares of the pipeline company's stock valued at $289,000 after purchasing an additional 142 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in Targa Resources by 36.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company's stock worth $48,000 after acquiring an additional 150 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

NYSE:TRGP remained flat at $115.97 during mid-day trading on Monday. 1,893,326 shares of the company were exchanged, compared to its average volume of 1,705,652. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The stock has a market capitalization of $25.81 billion, a price-to-earnings ratio of 31.60 and a beta of 2.21. The business's 50-day simple moving average is $100.33 and its two-hundred day simple moving average is $90.76. Targa Resources Corp. has a 52 week low of $67.36 and a 52 week high of $116.92.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.26). Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. On average, analysts expect that Targa Resources Corp. will post 5.75 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.00 annualized dividend and a yield of 1.72%. Targa Resources's dividend payout ratio (DPR) is presently 54.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho raised their price objective on Targa Resources from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Citigroup lifted their price target on shares of Targa Resources from $104.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Barclays upped their price target on shares of Targa Resources from $105.00 to $116.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 19th. Truist Financial upped their price target on Targa Resources from $105.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada lifted their target price on shares of Targa Resources from $106.00 to $109.00 and gave the stock an "outperform" rating in a research report on Monday, February 26th. 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 company's stock. According to MarketBeat.com, Targa Resources has an average rating of "Buy" and an average target price of $115.10.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the completion of the sale, the insider now directly owns 156,098 shares in the company, valued at $15,141,506. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the sale, the director now directly owns 38,440 shares in the company, valued at $3,754,434.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider D. Scott Pryor sold 10,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the sale, the insider now directly owns 156,098 shares in the company, valued at $15,141,506. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,966 shares of company stock worth $7,987,215. 1.44% of the stock is owned by corporate insiders.

About Targa Resources

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.