Targa Resources Corp.
No SEC Form 4 filings for $TRGP in the last 30 days.
Targa Resources (NYSE:TRGP) shares recently hit a new 52-week high, closing near $275. Despite missing Wall Street's EPS and revenue estimates in its latest earnings report, the company raised its quarterly dividend to $1.25 per share. Analysts maintain a "Moderate Buy" rating, with an average price target of $266.36.
ARS Investment Partners LLC significantly increased its stake in Targa Resources, Inc. by 6.6% in the fourth quarter, bringing its total holdings to 65,961 shares valued at approximately $12.17 million. This increase occurred despite Targa Resources reporting weaker-than-expected quarterly results, missing EPS and revenue estimates, though the company did raise its quarterly dividend to $1.25 per share. Analysts maintain a "Moderate Buy" rating with an average target price of $266.36, while institutional investors collectively own 92.13% of the company's stock.
Targa Resources (NYSE:TRGP) recently saw a significant insider share sale by Independent Director Charles Crisp, who sold US$2.7 million worth of shares, reducing his holding by 14%. This follows a larger sale by President of Gathering & Processing Patrick McDonie, who sold US$7.5 million in shares at a lower price within the last year, indicating that some insiders were content with a lower valuation compared to the current price. Despite these sales, the company maintains high insider ownership (1.4% of shares, valued at US$806 million) and is growing profits, though the continued sales raise some caution for investors.
