Janus Henderson Group PLC Sells 927 Shares of Targa Resources Corp. (NYSE:TRGP)

Janus Henderson Group PLC decreased its stake in Targa Resources Corp. (NYSE:TRGP) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,373 shares of the pipeline company’s stock after selling 927 shares during the quarter. Janus Henderson Group PLC’s holdings in Targa Resources were worth $4,349,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Colonial Trust Co SC increased its position in shares of Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Atala Financial Inc bought a new position in shares of Targa Resources during the 4th quarter valued at approximately $31,000. Cary Street Partners Financial LLC bought a new position in shares of Targa Resources during the 4th quarter valued at approximately $31,000. Rakuten Securities Inc. increased its position in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new position in shares of Targa Resources during the 4th quarter valued at approximately $36,000. Institutional investors own 92.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now directly owns 725,628 shares in the company, valued at $141,555,510.24. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. This trade represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock worth $22,613,288 in the last ninety days. 1.34% of the stock is owned by company insiders.

Targa Resources Trading Down 0.6%

TRGP opened at $165.46 on Monday. The stock’s fifty day moving average is $177.28 and its two-hundred day moving average is $188.33. The company has a market capitalization of $35.89 billion, a P/E ratio of 28.83, a PEG ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 52 week low of $113.65 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources’s payout ratio is currently 73.66%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRGP shares. Royal Bank of Canada cut their target price on Targa Resources from $199.00 to $191.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley raised their price target on Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Scotiabank decreased their price target on Targa Resources from $201.00 to $199.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 29th. Mizuho decreased their price target on Targa Resources from $226.00 to $218.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, Truist Financial raised their price target on Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and a consensus target price of $201.64.

Targa Resources 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.