Daiwa Securities Group Inc. Has $5.73 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Daiwa Securities Group Inc. boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,723 shares of the pipeline company’s stock after buying an additional 6,077 shares during the period. Daiwa Securities Group Inc.’s holdings in Targa Resources were worth $5,731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TRGP. Dimensional Fund Advisors LP increased its position in shares of Targa Resources by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock worth $296,647,000 after acquiring an additional 271,444 shares in the last quarter. Truist Financial Corp raised its stake in shares of Targa Resources by 5.9% in the 2nd quarter. Truist Financial Corp now owns 838,714 shares of the pipeline company’s stock valued at $108,010,000 after purchasing an additional 46,864 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Targa Resources by 2.9% in the third quarter. Principal Financial Group Inc. now owns 814,296 shares of the pipeline company’s stock valued at $120,540,000 after purchasing an additional 22,621 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Targa Resources by 239.1% in the second quarter. American Century Companies Inc. now owns 791,095 shares of the pipeline company’s stock valued at $101,877,000 after purchasing an additional 557,832 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in shares of Targa Resources by 32.4% during the second quarter. Bahl & Gaynor Inc. now owns 687,132 shares of the pipeline company’s stock worth $88,489,000 after buying an additional 168,267 shares during the period. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Truist Financial boosted their target price on Targa Resources from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group raised their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 price target on the stock. Finally, UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $176.50.

Targa Resources Trading Up 1.2 %

Shares of NYSE:TRGP opened at $203.42 on Wednesday. The company has a 50-day simple moving average of $171.40 and a 200 day simple moving average of $145.62. The company has a market capitalization of $44.36 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 0.82 and a beta of 2.24. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts forecast that Targa Resources Corp. will post 6.23 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Targa Resources’s dividend payout ratio is currently 54.25%.

Insider Activity

In related news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Muraro sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,760 shares of company stock valued at $30,026,712 over the last ninety days. 1.39% of the stock is currently owned by company insiders.

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.