<div id="readability-page-1"><p>Targa Resources Corp. (NYSE:TRGP - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $131.32 and last traded at $131.27, with a volume of 1738553 shares trading hands. The stock had previously closed at $128.78.</p><div><p><span></span><span>Get <strong>Targa Resources</strong> alerts:</span></p></div><h2>Wall Street Analyst Weigh In</h2><ul><li>Oil &amp; Gas Are Moving In August, Here Are The 3 Industry Favorites</li></ul><p>Several equities analysts recently weighed in on the stock. Mizuho raised their price target on shares of Targa Resources from $105.00 to $130.00 and gave the company a &#34;buy&#34; rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on shares of Targa Resources from $105.00 to $117.00 and gave the stock a &#34;buy&#34; rating in a research report on Thursday, April 4th. Morgan Stanley lifted their target price on shares of Targa Resources from $134.00 to $140.00 and gave the stock an &#34;overweight&#34; rating in a research report on Monday, June 10th. UBS Group lifted their target price on shares of Targa Resources from $116.00 to $147.00 and gave the stock a &#34;buy&#34; rating in a research report on Tuesday, June 11th. Finally, Barclays lifted their target price on shares of Targa Resources from $116.00 to $122.00 and gave the stock an &#34;overweight&#34; rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Targa Resources has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $129.46.</p><p><b>Read Our Latest Stock Analysis on Targa Resources</b></p><h2>Targa Resources Price Performance</h2><ul><li>Rising Optimism: Analysts Say &#34;Buy&#34; Despite Earnings Uncertainty</li></ul><p>The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. The firm has a market capitalization of $29.11 billion, a P/E ratio of 26.50, a P/E/G ratio of 0.76 and a beta of 2.27. The firm's 50 day simple moving average is $118.04 and its two-hundred day simple moving average is $104.12. </p><p>Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.13). The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.28 billion. Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. As a group, analysts predict that Targa Resources Corp. will post 5.27 earnings per share for the current year. </p><h2>Targa Resources Increases Dividend</h2><ul><li>Institutions Snapping Up These 3 Energy-Sector Dividend Payers</li></ul><p>The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a $0.75 dividend. This is a boost from Targa Resources's previous quarterly dividend of $0.50. The ex-dividend date was Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.29%. Targa Resources's payout ratio is presently 61.73%. </p><h2>Insider Buying and Selling at Targa Resources</h2><p>In related news, insider D. Scott Pryor sold 20,000 shares of the business's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the transaction, the insider now owns 136,098 shares in the company, valued at $15,396,766.74. The sale was disclosed in a filing with the Securities &amp; Exchange Commission, which is available through this link. In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the company's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.13, for a total value of $2,262,600.00. Following the sale, the insider now owns 136,098 shares in the company, valued at $15,396,766.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Muraro sold 10,000 shares of the company's stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the completion of the sale, the insider now owns 196,951 shares in the company, valued at approximately $23,649,876.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,791 shares of company stock worth $4,907,563. 1.44% of the stock is currently owned by company insiders. </p><h2>Institutional Inflows and Outflows</h2><p>Several hedge funds and other institutional investors have recently made changes to their positions in TRGP. Vanguard Group Inc. lifted its position in Targa Resources by 0.8% during the first quarter. Vanguard Group Inc. now owns 27,015,992 shares of the pipeline company's stock valued at $3,025,521,000 after purchasing an additional 201,817 shares during the period. Blackstone Inc. lifted its position in Targa Resources by 2.7% during the first quarter. Blackstone Inc. now owns 9,695,457 shares of the pipeline company's stock valued at $1,085,794,000 after purchasing an additional 252,729 shares during the period. Wellington Management Group LLP lifted its position in Targa Resources by 5.1% during the third quarter. Wellington Management Group LLP now owns 8,319,024 shares of the pipeline company's stock valued at $713,107,000 after purchasing an additional 401,144 shares during the period. Deutsche Bank AG lifted its position in Targa Resources by 200.4% during the third quarter. Deutsche Bank AG now owns 5,577,027 shares of the pipeline company's stock valued at $478,063,000 after purchasing an additional 3,720,270 shares during the period. Finally, Morgan Stanley lifted its position in Targa Resources by 16.1% during the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company's stock valued at $325,003,000 after purchasing an additional 524,794 shares during the period. Institutional investors own 92.13% of the company's stock. </p><h2>About Targa Resources</h2> (Get Free Report)<p>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. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Targa Resources</li><li>What Investors Need to Know About Upcoming IPOs</li><li>These Top 3 Banks Raise Dividends After Passing Fed Stress Test</li><li>The Significance of Brokerage Rankings in Stock Selection</li><li>Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half</li><li>What Are Growth Stocks and Investing in Them </li><li>Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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TRGP

<p>Targa Resources (NYSE:TRGP) reached a new 12-month high at $131.32, with a volume of 1,738,553 shares trading hands. The stock had previously closed at $128.78. Analysts have given the stock a "Moderate Buy" rating with a consensus price target of $129.46. Targa Resources also recently increased its quarterly dividend and insiders have been selling shares. Overall, the stock is performing well and attracting investor interest.</p>

Targa Resources (NYSE:TRGP) Reaches New 12-Month High at $131.32