Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,078 shares of the pipeline company’s stock after purchasing an additional 232 shares during the period. Aaron Wealth Advisors LLC’s holdings in Targa Resources were worth $456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the second quarter valued at $29,000. UMB Bank n.a. grew its stake in Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Whittier Trust Co. bought a new stake in Targa Resources in the second quarter valued at about $44,000. Register Financial Advisors LLC acquired a new stake in Targa Resources during the first quarter valued at approximately $45,000. Finally, Rogco LP acquired a new position in shares of Targa Resources in the 1st quarter worth approximately $56,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Price Performance

NYSE TRGP opened at $162.75 on Friday. The business’s fifty day moving average is $150.42 and its two-hundred day moving average is $132.16. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The stock has a market capitalization of $35.66 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.32 and a beta of 2.25. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $167.79.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same quarter last year, the business posted $1.44 EPS. On average, research analysts forecast that Targa Resources Corp. will post 5.9 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, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio is 63.16%.

Insider Activity

In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares in the company, valued at $17,181,399.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Targa Resources news, Director Paul W. Chung sold 916 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $136.35, for a total value of $124,896.60. Following the transaction, the director now directly owns 238,591 shares in the company, valued at approximately $32,531,882.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares in the company, valued at $17,181,399.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,534 shares of company stock valued at $26,815,021. 1.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRGP. Royal Bank of Canada raised their price objective on Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America initiated coverage on Targa Resources in a research note on Thursday. They issued a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. raised their price target on Targa Resources from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. Finally, Truist Financial upped their price objective on Targa Resources from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $148.36.

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.