6,158 Shares in Targa Resources, Inc. $TRGP Bought by TrueMark Investments LLC

TrueMark Investments LLC bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,158 shares of the pipeline company’s stock, valued at approximately $1,136,000.

A number of other hedge funds also recently bought and sold shares of TRGP. Larson Financial Group LLC grew its position in shares of Targa Resources by 4.1% in the third quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 60 shares during the last quarter. Equitable Holdings Inc. lifted its position in shares of Targa Resources by 3.6% during the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company’s stock worth $287,000 after purchasing an additional 60 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Targa Resources by 1.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock worth $845,000 after purchasing an additional 64 shares during the last quarter. State of Wyoming boosted its stake in Targa Resources by 3.2% during the 2nd quarter. State of Wyoming now owns 2,076 shares of the pipeline company’s stock valued at $361,000 after purchasing an additional 64 shares during the period. Finally, Savant Capital LLC boosted its stake in Targa Resources by 2.6% during the 3rd quarter. Savant Capital LLC now owns 2,849 shares of the pipeline company’s stock valued at $477,000 after purchasing an additional 73 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total transaction of $311,618.70. Following the completion of the transaction, the director directly owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lindsey Cooksen sold 435 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total transaction of $100,798.20. Following the completion of the sale, the director owned 11,670 shares in the company, valued at $2,704,172.40. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,929 shares of company stock worth $24,692,134 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Targa Resources from $248.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. TD Cowen increased their price objective on Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Stifel Nicolaus raised their price objective on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $242.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Finally, Barclays reissued an “overweight” rating and issued a $226.00 price target on shares of Targa Resources in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.57.

Targa Resources Stock Performance

NYSE:TRGP opened at $250.57 on Monday. The firm has a market capitalization of $53.82 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $253.40. The firm has a 50-day moving average price of $223.17 and a 200 day moving average price of $188.78.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%.The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 1.6%. Targa Resources’s payout ratio is currently 46.57%.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.