Key Points
- Robert Muraro sold 24,589 shares of Targa Resources (TRGP) on March 5 at an average price of $241.34 for about $5.93 million, reducing his stake by 11.08% to 197,401 shares; the sale was disclosed in an SEC filing.
- Targa is trading near its 52‑week high ($250) with a market cap around $51.0B, recently beat quarterly EPS estimates ($2.51 vs. $2.35), pays a $1.00 quarterly dividend (≈1.7% yield), and has seen several analysts raise price targets (Morgan Stanley to $298), leaving an average rating of "Moderate Buy."
Targa Resources, Inc. (NYSE:TRGP - Get Free Report) insider Robert Muraro sold 24,589 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider owned 197,401 shares in the company, valued at $47,640,757.34. The trade was a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Targa Resources Price Performance
Targa Resources stock opened at $237.30 on Friday. The company has a fifty day simple moving average of $205.45 and a 200-day simple moving average of $180.45. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.02 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $250.00.
Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. On average, equities analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.
Targa Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources's dividend payout ratio (DPR) is 46.57%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on TRGP shares. Morgan Stanley upped their price target on Targa Resources from $266.00 to $298.00 and gave the company an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group reiterated a "buy" rating and set a $242.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. Wall Street Zen lowered Targa Resources from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Barclays restated an "overweight" rating and issued a $226.00 target price on shares of Targa Resources in a report on Friday, February 20th. Finally, Citigroup raised their target price on Targa Resources from $200.00 to $262.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $240.79.
Get Our Latest Analysis on Targa Resources
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its stake in Targa Resources by 10.5% during the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company's stock worth $97,000 after acquiring an additional 50 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Targa Resources by 0.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company's stock valued at $1,376,000 after purchasing an additional 51 shares during the period. First Horizon Corp lifted its stake in shares of Targa Resources by 20.1% in the 4th quarter. First Horizon Corp now owns 340 shares of the pipeline company's stock valued at $63,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Targa Resources by 4.1% during the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the pipeline company's stock worth $253,000 after purchasing an additional 60 shares during the period. Finally, Equitable Holdings Inc. grew its holdings in shares of Targa Resources by 3.6% during the 3rd quarter. Equitable Holdings Inc. now owns 1,714 shares of the pipeline company's stock worth $287,000 after purchasing an additional 60 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.
About Targa Resources
(
Get Free Report)
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.
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