CHICAGO TRUST Co NA Acquires Shares of 2,806 Targa Resources Corp. (NYSE:TRGP)

CHICAGO TRUST Co NA bought a new position in Targa Resources Corp. (NYSE:TRGP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,806 shares of the pipeline company’s stock, valued at approximately $415,000.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank upped their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 17th. Barclays raised their price objective on shares of Targa Resources from $123.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Truist Financial raised their target price on Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus price target of $141.77.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 1,213 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the transaction, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the sale, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Julie H. Boushka sold 12,641 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the transaction, the chief accounting officer now directly owns 38,403 shares of the company’s stock, valued at $5,165,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,534 shares of company stock worth $26,815,021. Insiders own 1.39% of the company’s stock.

Targa Resources Trading Up 2.0 %

NYSE TRGP opened at $165.76 on Monday. The stock’s fifty day moving average price is $147.41 and its 200-day moving average price is $130.64. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 2.98. The stock has a market cap of $36.31 billion, a P/E ratio of 34.90, a P/E/G ratio of 1.28 and a beta of 2.25. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $166.07.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business 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 period last year, the business earned $1.44 EPS. As a group, equities analysts forecast that Targa Resources Corp. will post 5.9 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.81%. Targa Resources’s dividend payout ratio (DPR) is presently 63.16%.

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.