Louisiana State Employees Retirement System Purchases Shares of 13,500 Targa Resources Corp. (NYSE:TRGP)

Louisiana State Employees Retirement System acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,500 shares of the pipeline company's stock, valued at approximately $1,173,000.

Other large investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC boosted its stake in Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 209 shares during the last quarter. Rational Advisors LLC bought a new position in Targa Resources during the 3rd quarter valued at $43,000. Huntington National Bank boosted its stake in Targa Resources by 124.4% during the 3rd quarter. Huntington National Bank now owns 534 shares of the pipeline company's stock valued at $46,000 after acquiring an additional 296 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Targa Resources by 36.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company's stock valued at $48,000 after acquiring an additional 150 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Targa Resources by 77.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 850 shares of the pipeline company's stock valued at $73,000 after acquiring an additional 371 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRGP. JPMorgan Chase & Co. lifted their target price on Targa Resources from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. Stifel Nicolaus boosted their price objective on Targa Resources from $111.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Truist Financial increased their target price on Targa Resources from $105.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Barclays boosted their price target on shares of Targa Resources from $116.00 to $122.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Finally, Mizuho increased their price objective on shares of Targa Resources from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.55.

Targa Resources Price Performance

Shares of NYSE:TRGP traded up $2.18 during trading on Tuesday, reaching $115.99. The company had a trading volume of 1,659,346 shares, compared to its average volume of 1,743,104. The firm's fifty day moving average is $106.91 and its 200 day moving average is $93.34. The firm has a market capitalization of $25.81 billion, a PE ratio of 31.60 and a beta of 2.21. Targa Resources Corp. has a twelve month low of $67.36 and a twelve month high of $117.61. 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 (NYSE:TRGP - Get Free Report) last posted 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 firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. On average, equities analysts forecast that Targa Resources Corp. will post 5.77 EPS for the current year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Targa Resources's previous quarterly dividend of $0.50. Targa Resources's payout ratio is currently 54.50%.

Insider Transactions at Targa Resources

In other news, Director Joe Bob Perkins sold 33,405 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total value of $3,262,666.35. Following the sale, the director now owns 38,440 shares of the company's stock, valued at approximately $3,754,434.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joe Bob Perkins sold 33,405 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total value of $3,262,666.35. Following the sale, the director now owns 38,440 shares of the company's stock, valued at approximately $3,754,434.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Scott Pryor sold 10,000 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $97.00, for a total value 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. In the last 90 days, insiders have sold 81,966 shares of company stock valued at $7,987,215. Corporate insiders own 1.44% of the company's stock.

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.