Camelot Technology Advisors Inc. Purchases 1,025 Shares of Targa Resources Corp. (NYSE:TRGP)

Camelot Technology Advisors Inc. increased its holdings in Targa Resources Corp. (NYSE:TRGP) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,235 shares of the pipeline company’s stock after acquiring an additional 1,025 shares during the quarter. Targa Resources comprises about 2.0% of Camelot Technology Advisors Inc.’s investment portfolio, making the stock its 13th biggest holding. Camelot Technology Advisors Inc.’s holdings in Targa Resources were worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Blair William & Co. IL raised its holdings in Targa Resources by 4.1% in the second quarter. Blair William & Co. IL now owns 16,248 shares of the pipeline company’s stock worth $2,092,000 after buying an additional 638 shares during the last quarter. Intech Investment Management LLC grew its position in Targa Resources by 99.0% during the second quarter. Intech Investment Management LLC now owns 20,665 shares of the pipeline company’s stock valued at $2,661,000 after buying an additional 10,280 shares during the period. Canada Pension Plan Investment Board raised its holdings in Targa Resources by 145.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 128,200 shares of the pipeline company’s stock worth $16,510,000 after purchasing an additional 76,000 shares during the period. Sei Investments Co. grew its holdings in Targa Resources by 21.0% during the second quarter. Sei Investments Co. now owns 186,322 shares of the pipeline company’s stock valued at $23,995,000 after purchasing an additional 32,323 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Targa Resources by 2.7% in the second quarter. Thrivent Financial for Lutherans now owns 9,337 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 245 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In related news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TRGP shares. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays raised their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Bank of America started coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price for the company. Finally, Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Up 1.4 %

Shares of TRGP opened at $216.00 on Tuesday. The business’s 50 day simple moving average is $191.56 and its 200-day simple moving average is $163.93. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $217.02. 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 stock has a market capitalization of $47.10 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 0.64 and a beta of 2.30.

Targa Resources (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company earned $0.97 EPS. As a group, equities analysts expect that Targa Resources Corp. will post 6.42 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Targa Resources Company 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.