Securian Asset Management Inc. Has $1.08 Million Holdings in Targa Resources, Inc. $TRGP

Securian Asset Management Inc. decreased its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 43.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,837 shares of the pipeline company’s stock after selling 4,512 shares during the quarter. Securian Asset Management Inc.’s holdings in Targa Resources were worth $1,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Korea Investment CORP boosted its stake in shares of Targa Resources by 37.4% during the third quarter. Korea Investment CORP now owns 260,760 shares of the pipeline company’s stock valued at $43,688,000 after purchasing an additional 70,998 shares in the last quarter. Alps Advisors Inc. raised its holdings in Targa Resources by 5.5% in the 3rd quarter. Alps Advisors Inc. now owns 143,904 shares of the pipeline company’s stock valued at $24,110,000 after buying an additional 7,497 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Targa Resources by 5.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 484,462 shares of the pipeline company’s stock worth $81,167,000 after buying an additional 22,969 shares during the period. NFC Investments LLC bought a new stake in Targa Resources during the 3rd quarter worth approximately $8,478,000. Finally, Nordea Investment Management AB increased its position in Targa Resources by 13.5% in the 3rd quarter. Nordea Investment Management AB now owns 146,368 shares of the pipeline company’s stock valued at $24,325,000 after acquiring an additional 17,457 shares during the period. Institutional investors own 92.13% of the company’s stock.

Insider Activity

In other news, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the completion of the sale, the insider directly owned 197,401 shares of the company’s stock, valued at $47,640,757.34. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider D. Scott Pryor sold 17,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total transaction of $4,006,100.00. Following the completion of the sale, the insider owned 31,938 shares in the company, valued at $7,311,246.96. This represents a 35.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 104,929 shares of company stock valued at $24,692,134. 1.37% of the stock is currently owned by insiders.

Targa Resources Trading Up 0.8%

NYSE TRGP opened at $255.26 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $261.95. The business has a 50 day moving average price of $243.27 and a 200-day moving average price of $206.36. The company has a market cap of $54.79 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.64 and a beta of 0.75.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, May 7th. The pipeline company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a return on equity of 71.00% and a net margin of 12.87%.The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.68 billion. As a group, equities analysts expect that Targa Resources, Inc. will post 10.32 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, April 30th. Targa Resources’s payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Targa Resources from $242.00 to $268.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Morgan Stanley upped their price target on Targa Resources from $327.00 to $331.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup increased their price target on Targa Resources from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Truist Financial raised their price objective on Targa Resources from $285.00 to $289.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, TD Cowen lifted their price objective on Targa Resources from $236.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.86.

About Targa Resources

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.