Sei Investments Co. Acquires 14,620 Shares of Targa Resources Corp. (NYSE:TRGP)

Sei Investments Co. boosted its holdings in Targa Resources Corp. (NYSE:TRGP) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,005 shares of the pipeline company’s stock after acquiring an additional 14,620 shares during the quarter. Sei Investments Co.’s holdings in Targa Resources were worth $31,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRGP. Atala Financial Inc bought a new position in shares of Targa Resources in the fourth quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in Targa Resources by 394.6% in the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after buying an additional 146 shares in the last quarter. Aspect Partners LLC increased its holdings in shares of Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after buying an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Targa Resources during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.1 %

Shares of TRGP opened at $205.20 on Wednesday. The firm has a fifty day simple moving average of $200.01 and a two-hundred day simple moving average of $184.16. Targa Resources Corp. has a twelve month low of $110.09 and a twelve month high of $218.51. The stock has a market capitalization of $44.76 billion, a P/E ratio of 35.75, a PEG ratio of 0.61 and a beta of 2.32. 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 posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of research reports. Citigroup raised their price target on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays raised their price objective on Targa Resources from $204.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Truist Financial upped their target price on Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $211.00.

Insider Activity at Targa Resources

In other news, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares of the company’s stock, valued at approximately $568,957.74. This represents a 43.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 over the last quarter. 1.39% of the stock is owned by corporate insiders.

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.