Nisa Investment Advisors LLC Acquires 1,200 Shares of Targa Resources Corp. (NYSE:TRGP)

Posted by Defense World Staff on Jul 28th, 2023

Nisa Investment Advisors LLC boosted its holdings in Targa Resources Corp. (NYSE:TRGP – Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,823 shares of the pipeline company’s stock after purchasing an additional 1,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Targa Resources were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TRGP. CWM LLC lifted its stake in Targa Resources by 8.3% in the fourth quarter. CWM LLC now owns 1,927 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 148 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Targa Resources by 0.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 50,196 shares of the pipeline company’s stock worth $3,745,000 after buying an additional 155 shares during the last quarter. Czech National Bank lifted its stake in shares of Targa Resources by 0.6% during the 1st quarter. Czech National Bank now owns 26,668 shares of the pipeline company’s stock worth $1,945,000 after buying an additional 171 shares during the last quarter. Mariner LLC lifted its stake in shares of Targa Resources by 0.3% during the 4th quarter. Mariner LLC now owns 60,122 shares of the pipeline company’s stock worth $4,419,000 after buying an additional 184 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Targa Resources by 2.7% during the 3rd quarter. Baird Financial Group Inc. now owns 7,125 shares of the pipeline company’s stock worth $430,000 after buying an additional 189 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRGP. Capital One Financial reaffirmed an “overweight” rating on shares of Targa Resources in a research report on Thursday, April 20th. Truist Financial raised their price target on shares of Targa Resources from $90.00 to $95.00 in a research report on Friday, May 19th. UBS Group raised their price target on shares of Targa Resources from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Raymond James raised their price target on shares of Targa Resources from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 21st. Finally, Morgan Stanley lowered their price target on shares of Targa Resources from $108.00 to $106.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Buy” and a consensus target price of $99.82.

Insider Buying and Selling

In related news, CAO Julie H. Boushka sold 2,184 shares of Targa Resources stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $80.00, for a total transaction of $174,720.00. Following the sale, the chief accounting officer now directly owns 64,596 shares in the company, valued at approximately $5,167,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.39% of the stock is owned by corporate insiders.

Targa Resources Trading Down 1.0 %

Shares of Targa Resources stock opened at $80.53 on Friday. The firm has a market capitalization of $18.20 billion, a PE ratio of 20.86 and a beta of 2.28. The company has a current ratio of 0.66, a quick ratio of 0.60 and a debt-to-equity ratio of 2.59. The firm’s 50 day moving average is $74.06 and its 200 day moving average is $73.93. Targa Resources Corp. has a 1 year low of $57.23 and a 1 year high of $81.94.

Targa Resources (NYSE:TRGP – Get Free Report) last posted its earnings results on Thursday, May 4th. The pipeline company reported $0.03 EPS for the quarter, missing the consensus estimate of $1.43 by ($1.40). Targa Resources had a return on equity of 24.05% and a net margin of 5.43%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $5.72 billion. Equities research analysts forecast that Targa Resources Corp. will post 5.1 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.00 annualized dividend and a yield of 2.48%. Targa Resources’s dividend payout ratio is presently 51.81%.

Targa Resources Company Profile

(Free Report)

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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation.