Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its stake in Targa Resources Corp. (NYSE:TRGP) by 45.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,667 shares of the pipeline company’s stock after buying an additional 6,461 shares during the quarter. Mizuho Securities USA LLC’s holdings in Targa Resources were worth $3,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after buying an additional 633,589 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Targa Resources by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after buying an additional 97,583 shares during the period. Amundi increased its stake in shares of Targa Resources by 20.9% in the 4th quarter. Amundi now owns 1,841,175 shares of the pipeline company’s stock valued at $353,469,000 after purchasing an additional 318,261 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Targa Resources by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,464,111 shares of the pipeline company’s stock valued at $261,344,000 after purchasing an additional 38,723 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Targa Resources by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after purchasing an additional 14,287 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP stock opened at $197.25 on Monday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The business has a 50 day simple moving average of $199.77 and a 200-day simple moving average of $183.36. The firm has a market capitalization of $43.02 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 0.61 and a beta of 2.32. Targa Resources Corp. has a 1 year low of $110.09 and a 1 year high of $218.51.

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

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insider Activity at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 35,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This represents a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer R. Kneale sold 29,887 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total value of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRGP. Truist Financial lifted their price target on Targa Resources from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Mizuho lifted their price target on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup lifted their price target on Targa Resources from $218.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley lifted their price target on Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $211.00.

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.