Advisors Preferred LLC Acquires Shares of 12,032 Targa Resources Corp. (NYSE:TRGP)

Advisors Preferred LLC purchased a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,032 shares of the pipeline company's stock, valued at approximately $2,203,000.

Other large investors have also modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in Targa Resources in the third quarter worth approximately $242,000. Czech National Bank raised its holdings in shares of Targa Resources by 5.6% during the third quarter. Czech National Bank now owns 44,628 shares of the pipeline company's stock valued at $6,605,000 after acquiring an additional 2,377 shares during the period. Mather Group LLC. boosted its position in shares of Targa Resources by 31.5% in the third quarter. Mather Group LLC. now owns 2,958 shares of the pipeline company's stock worth $438,000 after buying an additional 708 shares during the period. CWM LLC grew its stake in Targa Resources by 7.2% during the 3rd quarter. CWM LLC now owns 5,358 shares of the pipeline company's stock valued at $793,000 after acquiring an additional 359 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Targa Resources by 5.8% in the 3rd quarter. Wedmont Private Capital now owns 5,375 shares of the pipeline company's stock valued at $850,000 after buying an additional 293 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Stock Down 1.3 %

NYSE TRGP traded down $2.60 on Wednesday, reaching $200.57. The company had a trading volume of 1,425,755 shares, compared to its average volume of 1,440,112. Targa Resources Corp. has a 52-week low of $87.44 and a 52-week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $43.74 billion, a P/E ratio of 36.27, a P/E/G ratio of 0.59 and a beta of 2.29. The company's fifty day moving average is $193.42 and its 200 day moving average is $172.45.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.50%. Targa Resources's payout ratio is presently 54.25%.

Wall Street Analyst Weigh In

TRGP has been the topic of several analyst reports. Scotiabank started coverage on Targa Resources in a report on Friday, January 10th. They set a "sector outperform" rating and a $218.00 target price on the stock. Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Truist Financial reduced their price objective on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, December 13th. Royal Bank of Canada upped their price target on Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, UBS Group increased their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $189.21.

About Targa Resources

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.