Mill Creek Capital Advisors LLC Invests $311,000 in Targa Resources Corp. (NYSE:TRGP)

Mill Creek Capital Advisors LLC bought a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,745 shares of the pipeline company's stock, valued at approximately $311,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its position in Targa Resources by 65.1% during the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock worth $3,791,000 after buying an additional 10,100 shares during the period. Nordea Investment Management AB increased its position in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock worth $5,070,000 after buying an additional 13,167 shares during the period. Capital Investment Advisors LLC increased its position in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after buying an additional 5,431 shares during the period. Braun Stacey Associates Inc. acquired a new position in Targa Resources during the third quarter worth approximately $11,042,000. Finally, Atomi Financial Group Inc. acquired a new position in Targa Resources during the fourth quarter worth approximately $271,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Price Performance

NYSE:TRGP traded up $1.09 during trading hours on Friday, hitting $205.51. The company's stock had a trading volume of 1,181,708 shares, compared to its average volume of 1,412,816. The business's 50-day moving average is $193.87 and its two-hundred day moving average is $173.65. The company has a market capitalization 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 debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52-week low of $88.50 and a 52-week high of $218.51.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued 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 dividend payout ratio (DPR) is 54.25%.

Analyst Ratings Changes

Several research firms have commented on TRGP. Wells Fargo & Company lifted their price target on Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Scotiabank started coverage on Targa Resources in a research note on Friday, January 10th. They set a "sector outperform" rating and a $218.00 price target for the company. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. UBS Group upped their price target on Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Morgan Stanley upped their price target on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price 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.