Targa Resources Corp. (NYSE:TRGP) Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,650 shares of the pipeline company's stock after selling 8,775 shares during the quarter. Targa Resources accounts for approximately 0.5% of Entropy Technologies LP's holdings, making the stock its 29th largest holding. Entropy Technologies LP's holdings in Targa Resources were worth $5,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Wellington Management Group LLP raised its position in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock worth $2,235,927,000 after purchasing an additional 633,589 shares during the period. Geode Capital Management LLC lifted its position in Targa Resources by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company's stock valued at $843,680,000 after purchasing an additional 97,583 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Targa Resources by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company's stock valued at $197,076,000 after purchasing an additional 14,287 shares during the period. JPMorgan Chase & Co. grew its position in Targa Resources by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company's stock worth $186,139,000 after purchasing an additional 96,268 shares during the last quarter. Finally, Barclays PLC grew its position in Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock worth $153,124,000 after purchasing an additional 168,602 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Price Performance

NYSE TRGP traded down $2.60 during trading hours on Wednesday, reaching $200.57. 1,425,755 shares of the stock traded hands, compared to its average volume of 1,440,112. 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 Corp. has a 1 year low of $87.44 and a 1 year high of $218.51. The stock has a 50 day simple moving average of $193.42 and a two-hundred day simple moving average of $172.45. The company has a market cap of $43.74 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29.

Targa Resources Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on TRGP. Truist Financial cut their target price on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Stifel Nicolaus increased their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. US Capital Advisors cut shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Barclays increased their price target on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. One 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 data from MarketBeat.com, the company currently 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.