Quaero Capital S.A. cut its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 20.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,440 shares of the pipeline company's stock after selling 1,360 shares during the quarter. Quaero Capital S.A.'s holdings in Targa Resources were worth $971,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. CWM LLC raised its position in shares of Targa Resources by 7.2% during the third quarter. CWM LLC now owns 5,358 shares of the pipeline company's stock worth $793,000 after acquiring an additional 359 shares during the last quarter. CX Institutional bought a new stake in shares of Targa Resources in the third quarter worth about $198,000. Creative Planning increased its holdings in shares of Targa Resources by 17.6% in the third quarter. Creative Planning now owns 43,783 shares of the pipeline company's stock worth $6,480,000 after acquiring an additional 6,546 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Targa Resources during the third quarter worth about $192,000. Finally, Global Retirement Partners LLC boosted its position in shares of Targa Resources by 8.4% during the third quarter. Global Retirement Partners LLC now owns 31,148 shares of the pipeline company's stock worth $4,610,000 after buying an additional 2,419 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.
Targa Resources Trading Up 0.4 %
NYSE TRGP traded up $0.74 during trading on Wednesday, hitting $210.19. 1,842,749 shares of the company's stock traded hands, compared to its average volume of 1,435,398. The stock has a fifty day moving average of $194.72 and a two-hundred day moving average of $174.96. 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 12-month low of $95.28 and a 12-month high of $218.51. The firm has a market cap of $45.83 billion, a P/E ratio of 38.01, a PEG ratio of 0.61 and a beta of 2.29.
Targa Resources Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Targa Resources's dividend payout ratio is currently 54.25%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Barclays upped their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Wells Fargo & Company raised their price objective on Targa Resources from $190.00 to $204.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Truist Financial lowered their target price on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group increased their target price on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, US Capital Advisors lowered Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $189.21.
Read Our Latest Stock Report on Targa Resources
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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