Targa Resources Corp. (NYSE:TRGP) Shares Sold by Oak Thistle LLC

Oak Thistle LLC cut its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 23.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,258 shares of the pipeline company’s stock after selling 3,655 shares during the period. Targa Resources accounts for approximately 0.6% of Oak Thistle LLC’s holdings, making the stock its 18th biggest holding. Oak Thistle LLC’s holdings in Targa Resources were worth $2,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. Rosenberg Matthew Hamilton grew its position in Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Targa Resources by 17.2% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,290 shares of the pipeline company’s stock worth $587,000 after purchasing an additional 484 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of Targa Resources by 191.4% in the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares in the last quarter. Czech National Bank grew its holdings in shares of Targa Resources by 5.9% during the 4th quarter. Czech National Bank now owns 47,281 shares of the pipeline company’s stock worth $8,440,000 after purchasing an additional 2,653 shares during the period. Finally, Graypoint LLC acquired a new stake in Targa Resources during the 4th quarter worth approximately $238,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRGP. The Goldman Sachs Group lifted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Truist Financial decreased their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley upped their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America started coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price for the company. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $189.21.

Insiders Place Their Bets

In related news, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction 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 transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Targa Resources Trading Up 1.7 %

NYSE TRGP opened at $200.89 on Wednesday. The company has a market capitalization of $43.81 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 12 month low of $81.03 and a 12 month high of $209.87. The company’s fifty day moving average price is $190.21 and its two-hundred day moving average price is $162.26.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the company posted $0.97 earnings per share. As a group, research analysts predict that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

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.