Targa Resources, Inc. $TRGP Shares Purchased by Candriam S.C.A.

Candriam S.C.A. raised its position in Targa Resources, Inc. (NYSE:TRGP) by 564.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,775 shares of the pipeline company’s stock after acquiring an additional 134,866 shares during the quarter. Candriam S.C.A. owned approximately 0.07% of Targa Resources worth $39,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Targa Resources by 57.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company’s stock valued at $6,421,000 after buying an additional 12,640 shares during the last quarter. Wellington Management Group LLP raised its stake in Targa Resources by 9.0% in the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after buying an additional 1,620,253 shares in the last quarter. Eventide Asset Management LLC lifted its holdings in Targa Resources by 6.9% during the 3rd quarter. Eventide Asset Management LLC now owns 375,619 shares of the pipeline company’s stock worth $62,960,000 after buying an additional 24,219 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Targa Resources by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock worth $151,331,000 after buying an additional 53,413 shares during the last quarter. Finally, Raiffeisen Bank International AG boosted its position in shares of Targa Resources by 164.1% during the 4th quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company’s stock worth $6,245,000 after acquiring an additional 20,905 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total value of $2,713,687.92. Following the transaction, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.37% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $273.24 on Friday. The company has a 50-day simple moving average of $265.16 and a 200-day simple moving average of $235.18. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $280.00. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The stock has a market capitalization of $58.65 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.40 and a beta of 0.71.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.27). Targa Resources had a return on equity of 71.00% and a net margin of 12.87%.The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. On average, analysts predict that Targa Resources, Inc. will post 10.75 EPS for the current year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 30th. This is a positive change from Targa Resources’s previous quarterly dividend of $1.00. Targa Resources’s payout ratio is 50.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRGP. US Capital Advisors downgraded Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Truist Financial upped their price target on Targa Resources from $285.00 to $289.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. The Goldman Sachs Group increased their price target on shares of Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on shares of Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Mizuho upped their target price on shares of Targa Resources from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.93.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.