Allspring Global Investments Holdings LLC Has $161.56 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Allspring Global Investments Holdings LLC lowered its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 882,667 shares of the pipeline company's stock after selling 18,163 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.40% of Targa Resources worth $161,560,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Buckley Wealth Management LLC grew its stake in Targa Resources by 0.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock valued at $1,469,000 after buying an additional 65 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after buying an additional 66 shares during the last quarter. Mather Group LLC. grew its position in shares of Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after purchasing an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Targa Resources by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock worth $321,000 after purchasing an additional 84 shares in the last quarter. Finally, Catalina Capital Group LLC grew its position in shares of Targa Resources by 3.9% during the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock worth $400,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Price Performance

NYSE:TRGP traded up $1.09 on Friday, hitting $205.51. The company had a trading volume of 1,181,708 shares, compared to its average volume of 1,412,816. The stock has a market capitalization of $44.81 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.59 and a beta of 2.29. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm has a 50 day moving average of $193.65 and a two-hundred day moving average of $172.87. Targa Resources Corp. has a 52 week low of $88.50 and a 52 week high of $218.51.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is 54.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Truist Financial decreased their target price on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. US Capital Advisors lowered shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. The Goldman Sachs Group increased their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $189.21.

Targa Resources Profile

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.