Generali Asset Management SPA SGR Buys Shares of 28,451 Targa Resources Corp. (NYSE:TRGP)

Generali Asset Management SPA SGR bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 28,451 shares of the pipeline company’s stock, valued at approximately $5,079,000.

Several other hedge funds have also bought and sold shares of TRGP. Oppenheimer & Co. Inc. lifted its position in Targa Resources by 54.4% during the third quarter. Oppenheimer & Co. Inc. now owns 3,166 shares of the pipeline company’s stock valued at $469,000 after purchasing an additional 1,116 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after acquiring an additional 89 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Targa Resources by 81.0% in the 3rd quarter. Natixis Advisors LLC now owns 45,818 shares of the pipeline company’s stock worth $6,782,000 after acquiring an additional 20,501 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Targa Resources by 51.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,106 shares of the pipeline company’s stock worth $2,087,000 after acquiring an additional 4,769 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Targa Resources by 4.9% in the 3rd quarter. Caprock Group LLC now owns 16,461 shares of the pipeline company’s stock worth $2,436,000 after acquiring an additional 770 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TRGP shares. Truist Financial boosted their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus lifted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Scotiabank decreased their target price on shares of Targa Resources from $218.00 to $210.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Barclays lifted their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Mizuho lifted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $210.50.

Insider Transactions at Targa Resources

In related news, CEO Matthew J. Meloy sold 48,837 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at $141,555,510.24. The trade was a 6.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total transaction of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,914 shares of company stock valued at $22,613,288 in the last three months. 1.39% of the stock is currently owned by company insiders.

Targa Resources Stock Down 1.3 %

Shares of Targa Resources stock opened at $194.05 on Wednesday. The company’s fifty day simple moving average is $199.40 and its two-hundred day simple moving average is $182.29. The company has a market cap of $42.32 billion, a P/E ratio of 33.81, a PEG ratio of 0.61 and a beta of 2.32. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $107.31 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

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.