Sentry Investment Management LLC Sells 127 Shares of Targa Resources Corp. (NYSE:TRGP)

Sentry Investment Management LLC lessened its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,181 shares of the pipeline company’s stock after selling 127 shares during the quarter. Sentry Investment Management LLC’s holdings in Targa Resources were worth $103,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. raised its holdings in Targa Resources by 51.3% in the 3rd quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Targa Resources by 2.1% in the second quarter. Orion Portfolio Solutions LLC now owns 6,125 shares of the pipeline company’s stock worth $466,000 after purchasing an additional 128 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Targa Resources by 5.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,960 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 140 shares during the last quarter. Ballentine Partners LLC boosted its stake in Targa Resources by 4.4% during the 3rd quarter. Ballentine Partners LLC now owns 3,370 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 142 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its holdings in Targa Resources by 36.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock valued at $48,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Insider Activity at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.66, for a total transaction of $244,150.00. Following the sale, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at $7,012,769.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jennifer R. Kneale sold 26,061 shares of Targa Resources stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.36, for a total value of $2,537,298.96. Following the completion of the transaction, the chief financial officer now directly owns 227,663 shares of the company’s stock, valued at $22,165,269.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total transaction of $244,150.00. Following the sale, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Insiders sold 81,966 shares of company stock valued at $7,987,215 in the last ninety days. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

TRGP has been the subject of a number of research analyst reports. Truist Financial upped their price target on Targa Resources from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Citigroup raised their price target on shares of Targa Resources from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Barclays boosted their price objective on shares of Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of Targa Resources from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus boosted their price target on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $117.92.

Targa Resources Trading Down 0.4 %

Shares of TRGP opened at $111.78 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 2.68. The stock has a market cap of $24.88 billion, a PE ratio of 30.46 and a beta of 2.21. Targa Resources Corp. has a 1 year low of $67.36 and a 1 year high of $117.61. The stock has a 50 day simple moving average of $105.34 and a 200-day simple moving average of $92.49.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, sell-side analysts predict that Targa Resources Corp. will post 5.77 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio (DPR) is 54.50%.

Targa Resources 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.