Targa Resources Corp. (NYSE:TRGP) Insider Robert Muraro Sells 100 Shares

Targa Resources Corp. (NYSE:TRGP) insider Robert Muraro sold 100 shares of Targa Resources stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.00, for a total value of $13,000.00. Following the sale, the insider now directly owns 196,851 shares in the company, valued at approximately $25,590,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Muraro also recently made the following trade(s):

• On Monday, June 10th, Robert Muraro sold 10,000 shares of Targa Resources stock. The shares were sold at an average price of $120.08, for a total value of $1,200,800.00.

Targa Resources Trading Up 0.2 %

Targa Resources stock opened at $128.78 on Friday. Targa Resources Corp. has a 1 year low of $74.20 and a 1 year high of $130.53. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.62 and a current ratio of 0.70. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 0.76 and a beta of 2.21. The firm’s 50 day moving average price is $118.04 and its two-hundred day moving average price is $103.85.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.28 billion. On average, research analysts predict that Targa Resources Corp. will post 5.27 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.33%. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, April 29th. Targa Resources’s payout ratio is presently 61.73%.

Hedge Funds Weigh In On Targa Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Targa Resources by 15.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 977 shares of the pipeline company’s stock worth $111,000 after purchasing an additional 128 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Targa Resources by 21.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,744 shares of the pipeline company’s stock valued at $6,927,000 after acquiring an additional 11,098 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Targa Resources by 166.9% during the 1st quarter. Cetera Advisors LLC now owns 6,453 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 4,035 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Targa Resources by 215.2% during the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock valued at $3,478,000 after acquiring an additional 21,200 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Targa Resources during the 1st quarter valued at $1,151,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays boosted their target price on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Stifel Nicolaus boosted their target price on Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on Targa Resources from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, June 7th. Royal Bank of Canada boosted their target price on Targa Resources from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Truist Financial boosted their target price on Targa Resources from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.46.

About Targa Resources

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.