C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases New Holdings in Targa Resources Corp. (NYSE:TRGP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,405 shares of the pipeline company's stock, valued at approximately $5,784,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Buckley Wealth Management LLC lifted 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 acquiring an additional 65 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings 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 in the last quarter. Mather Group LLC. grew its holdings in Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after buying an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock valued at $321,000 after buying an additional 84 shares in the last quarter. Finally, Catalina Capital Group LLC grew its holdings in Targa Resources by 3.9% in the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock valued at $400,000 after buying an additional 85 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group upped their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Truist Financial dropped their target price on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Finally, Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $189.21.

Targa Resources Stock Up 0.5 %

Shares of TRGP stock traded up $1.09 during trading hours on Friday, reaching $205.51. 1,181,708 shares of the company's stock were exchanged, compared to its average volume of 1,412,816. Targa Resources Corp. has a 1 year low of $88.50 and a 1 year high of $218.51. The stock has a market cap of $44.81 billion, a PE 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 stock's fifty day moving average price is $193.87 and its two-hundred day moving average price is $173.65.

Targa Resources Announces Dividend

The firm also recently announced 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 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is 54.25%.

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.