DekaBank Deutsche Girozentrale Purchases 13,315 Shares of Targa Resources Corp. (NYSE:TRGP)

DekaBank Deutsche Girozentrale raised its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,646 shares of the pipeline company's stock after buying an additional 13,315 shares during the period. DekaBank Deutsche Girozentrale's holdings in Targa Resources were worth $4,440,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRGP. Harbour Investments Inc. raised its holdings in Targa Resources by 51.3% during the third quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company's stock valued at $31,000 after buying an additional 121 shares in the last quarter. Quarry LP bought a new position in shares of Targa Resources in the first quarter worth about $33,000. VisionPoint Advisory Group LLC increased its stake in shares of Targa Resources by 111.2% in the third quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company's stock worth $34,000 after purchasing an additional 209 shares during the period. Rational Advisors LLC bought a new position in shares of Targa Resources in the third quarter worth about $43,000. Finally, Huntington National Bank increased its stake in shares of Targa Resources by 124.4% in the third quarter. Huntington National Bank now owns 534 shares of the pipeline company's stock worth $46,000 after purchasing an additional 296 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TRGP. Barclays lifted their price objective on Targa Resources from $116.00 to $122.00 and gave the stock an "overweight" rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on Targa Resources from $106.00 to $109.00 and gave the stock an "outperform" rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price objective on Targa Resources from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 6th. Truist Financial lifted their price objective on Targa Resources from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Finally, UBS Group lowered their price target on Targa Resources from $109.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, January 18th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and a consensus price target of $115.70.

Targa Resources Price Performance

NYSE TRGP traded down $0.66 during trading on Friday, reaching $114.67. 2,138,621 shares of the company traded hands, compared to its average volume of 1,737,406. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79. The stock's 50 day moving average price is $103.22 and its two-hundred day moving average price is $91.74. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 31.25 and a beta of 2.21. Targa Resources Corp. has a 1-year low of $67.36 and a 1-year high of $117.61.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. As a group, analysts anticipate that Targa Resources Corp. will post 5.75 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, January 30th. Targa Resources's payout ratio is currently 54.50%.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 10,000 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $97.00, for a total transaction of $970,000.00. Following the transaction, the insider now owns 156,098 shares of the company's stock, valued at approximately $15,141,506. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Targa Resources news, insider D. Scott Pryor sold 10,000 shares of the company'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 completion of the sale, the insider now owns 156,098 shares in the company, valued at approximately $15,141,506. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Julie H. Boushka sold 2,500 shares of the company'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 owns 71,808 shares of the company's stock, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Insiders have sold 81,966 shares of company stock valued at $7,987,215 in the last three months. 1.39% 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.