Janus Henderson Group PLC Has $8.83 Million Stake in Targa Resources, Inc. $TRGP

Janus Henderson Group PLC boosted its holdings in Targa Resources, Inc. (NYSE:TRGP) by 143.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,225 shares of the pipeline company’s stock after acquiring an additional 20,763 shares during the period. Janus Henderson Group PLC’s holdings in Targa Resources were worth $8,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Woodline Partners LP lifted its holdings in Targa Resources by 40.7% during the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after purchasing an additional 5,327 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Targa Resources by 157.4% in the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares during the period. Baird Financial Group Inc. grew its stake in shares of Targa Resources by 6.3% in the second quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock valued at $644,000 after acquiring an additional 219 shares in the last quarter. Brown Advisory Inc. increased its position in Targa Resources by 13.1% during the second quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock worth $787,000 after acquiring an additional 524 shares during the period. Finally, Cerity Partners LLC raised its stake in Targa Resources by 11.0% in the 2nd quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock worth $5,550,000 after purchasing an additional 3,163 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other news, Director Charles R. Crisp sold 10,602 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the sale, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.37% of the company’s stock.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $259.64 on Thursday. The company’s 50 day moving average price is $268.70 and its two-hundred day moving average price is $247.29. The firm has a market capitalization of $55.73 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.33 and a beta of 0.72. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $291.04. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.68 billion. On average, equities analysts forecast that Targa Resources, Inc. will post 10.84 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $1.25 dividend. The ex-dividend date is Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.9%. Targa Resources’s dividend payout ratio (DPR) is currently 50.56%.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of analyst reports. TD Cowen increased their target price on shares of Targa Resources from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Wells Fargo & Company raised their price objective on Targa Resources from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Scotiabank lifted their price objective on Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Truist Financial increased their price objective on shares of Targa Resources from $289.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, UBS Group reaffirmed a “buy” rating and issued a $318.00 target price on shares of Targa Resources in a report on Thursday, July 9th. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and a consensus price target of $288.00.

Targa Resources Company 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.