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AustralianSuper Pty Ltd Buys Shares of 93,716 Targa Resources Corp. (NYSE:TRGP)

Targa Resources logo with Oils/Energy background

AustralianSuper Pty Ltd acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 93,716 shares of the pipeline company's stock, valued at approximately $16,728,000.

Other large investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in Targa Resources by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company's stock worth $14,152,000 after acquiring an additional 2,087 shares during the period. Avestar Capital LLC acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $222,000. McClarren Financial Advisors Inc. increased its position in Targa Resources by 18.9% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,084 shares of the pipeline company's stock worth $193,000 after purchasing an additional 172 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Targa Resources in the fourth quarter worth approximately $5,784,000. Finally, Van ECK Associates Corp raised its stake in shares of Targa Resources by 3.0% in the 4th quarter. Van ECK Associates Corp now owns 73,638 shares of the pipeline company's stock valued at $13,144,000 after acquiring an additional 2,115 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

Shares of TRGP stock traded up $0.74 during trading hours on Wednesday, reaching $210.19. The stock had a trading volume of 1,842,749 shares, compared to its average volume of 1,435,398. The firm has a 50-day simple moving average of $194.72 and a 200-day simple moving average of $174.96. The firm has a market capitalization of $45.83 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a twelve month low of $95.28 and a twelve month high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio is presently 54.25%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price objective on Targa Resources from $190.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Barclays increased their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Truist Financial lowered their price objective on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Finally, Morgan Stanley raised their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $189.21.

Read Our Latest Analysis on TRGP

Targa Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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