Janus Henderson Group PLC Purchases 20,763 Shares of Targa Resources, Inc. $TRGP

Janus Henderson Group PLC boosted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 143.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,225 shares of the pipeline company’s stock after buying an additional 20,763 shares during the period. Janus Henderson Group PLC’s holdings in Targa Resources were worth $8,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRGP. Norges Bank acquired a new stake in shares of Targa Resources during the 4th quarter valued at about $735,758,000. Goldman Sachs Group Inc. boosted its holdings in Targa Resources by 48.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock valued at $607,023,000 after purchasing an additional 1,075,246 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Targa Resources during the third quarter valued at approximately $121,426,000. Tortoise Capital Advisors L.L.C. grew its stake in shares of Targa Resources by 20.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock valued at $625,272,000 after purchasing an additional 572,562 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Targa Resources by 1,811.0% in the 4th quarter. UniSuper Management Pty Ltd now owns 444,335 shares of the pipeline company’s stock valued at $81,980,000 after purchasing an additional 421,084 shares during the period. Institutional investors own 92.13% of the company’s stock.

Insider Activity

In related news, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total value of $2,713,687.92. Following the sale, the director owned 66,492 shares of the company’s stock, valued at approximately $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.37% of the company’s stock.

Targa Resources Stock Down 1.3%

Targa Resources stock opened at $259.64 on Thursday. The company has a 50 day moving average of $268.70 and a 200-day moving average of $247.29. 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 twelve month low of $144.14 and a twelve month high of $291.04. The stock has a market capitalization of $55.73 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.33 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.68 billion. Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. On average, equities research analysts anticipate that Targa Resources, Inc. will post 10.84 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, July 31st. Targa Resources’s dividend payout ratio is currently 50.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial raised their target price on Targa Resources from $289.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Seaport Research Partners reiterated a “neutral” rating on shares of Targa Resources in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Targa Resources in a research report on Thursday, July 2nd. Finally, Scotiabank lifted their price objective on shares of Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Seventeen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.00.

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.