Avestar Capital LLC purchased a new position in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,246 shares of the pipeline company's stock, valued at approximately $222,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in Targa Resources in the third quarter worth $29,000. Prospera Private Wealth LLC bought a new stake in Targa Resources in the third quarter worth $35,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after purchasing an additional 89 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Targa Resources during the fourth quarter valued at $49,000. Finally, UMB Bank n.a. lifted its holdings in shares of Targa Resources by 39.6% during the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company's stock valued at $67,000 after purchasing an additional 106 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.
Targa Resources Stock Performance
TRGP traded up $0.74 during midday trading on Wednesday, reaching $210.19. The company had a trading volume of 1,728,662 shares, compared to its average volume of 1,431,756. 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 business has a 50-day moving average of $194.72 and a two-hundred day moving average of $174.96. The company has a market cap of $45.83 billion, a P/E ratio of 38.01, a P/E/G ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 1 year low of $95.28 and a 1 year high of $218.51.
Targa Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given 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 of this dividend was Friday, January 31st. Targa Resources's dividend payout ratio is currently 54.25%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. 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 report on Monday, November 11th. US Capital Advisors downgraded Targa Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 26th. Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Stifel Nicolaus upped their price target on Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $189.21.
Read Our Latest Research Report on Targa Resources
Targa Resources Company Profile
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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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