In recent trading activity, Julie H. Boushka, the Senior Vice President and Chief Accounting Officer of Targa Resources Corp. (NYSE:TRGP), has sold a significant amount of company stock. The transactions, which took place on May 7th and 8th, resulted in the sale of 4,875 shares at prices that ranged from $112.4919 to $113.005, accumulating to over $549,778 in total.
On the first day, Boushka sold 2,691 shares of Targa Resources' common stock at an average price of $113.005 per share. Following this transaction, she sold an additional 2,184 shares the next day at a weighted average price of $112.4919. The sales were executed in multiple transactions at prices that varied slightly within the provided range.
After these sales, Boushka's ownership in the company stands at 55,044 shares of common stock. The transactions were part of her regular financial activities as an executive of the company and have been duly reported in compliance with SEC regulations.
Investors and market watchers often monitor insider trading activities, such as those of Boushka, to gain insights into the company's performance and executive sentiment. Targa Resources Corp., headquartered in Houston, Texas, operates in the natural gas transmission sector and is known for its role in energy and transportation.
These insider sales are publicly disclosed to ensure transparency and to comply with legal requirements. Details of the transactions, including the exact number of shares sold at each price point within the range, are available upon request from Targa Resources Corp. or the SEC.
Julie H. Boushka's recent transactions come as part of the regular disclosure of stock dealings by company executives, allowing investors to stay informed about the financial dealings of Targa Resources' insiders.
InvestingPro Insights
Amid the insider trading activity at Targa Resources Corp. (NYSE:TRGP), investors are weighing the company's financial metrics to better understand its current market position. According to InvestingPro, Targa Resources is trading at a P/E ratio of 23.17, which is relatively low in comparison to its near-term earnings growth potential. This could indicate that the stock is undervalued by the market, presenting a potential opportunity for investors.
An InvestingPro Tip highlights that the company has maintained dividend payments for 14 consecutive years, which may appeal to income-focused investors, particularly with a dividend yield of 2.67% as of the last dividend ex-date on April 29, 2024. Additionally, Targa Resources has experienced a strong return over the last year, with a 61.88% price total return, reflecting robust investor confidence and market performance.
InvestingPro Data shows that Targa Resources has a market capitalization of $25.18 billion USD, and despite a revenue decline of 21.42% over the last twelve months as of Q1 2024, the company has managed to maintain a gross profit margin of 32.46%. The stock is also trading near its 52-week high, at 96.36% of the peak price, which may attract investors looking for stocks with upward momentum.
For investors seeking additional insights, there are more InvestingPro Tips available, providing deeper analysis into Targa Resources' financial health and stock performance. Using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and make more informed investment decisions.
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