Rhumbline Advisers Sells 14,101 Shares of Targa Resources Corp. (NYSE:TRGP)

Rhumbline Advisers lowered its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,370 shares of the pipeline company's stock after selling 14,101 shares during the quarter. Rhumbline Advisers owned 0.21% of Targa Resources worth $82,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TRGP. CWM LLC raised its stake in 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 purchasing an additional 359 shares during the period. Creative Planning boosted its position in Targa Resources by 17.6% in the 3rd quarter. Creative Planning now owns 43,783 shares of the pipeline company's stock valued at $6,480,000 after buying an additional 6,546 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Targa Resources by 70.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 12,578 shares of the pipeline company's stock valued at $1,862,000 after purchasing an additional 5,185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Targa Resources by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,822 shares of the pipeline company's stock worth $3,378,000 after acquiring an additional 153 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Targa Resources by 8.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,078 shares of the pipeline company's stock valued at $456,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Trading Up 0.4 %

NYSE TRGP traded up $0.74 on Wednesday, reaching $210.19. The company had a trading volume of 1,728,667 shares, compared to its average volume of 1,431,833. The stock's 50 day moving average is $194.72 and its 200-day moving average is $174.96. Targa Resources Corp. has a 52 week low of $95.28 and a 52 week high of $218.51. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 0.61 and a beta of 2.29. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

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 issued a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Targa Resources's dividend payout ratio is presently 54.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Truist Financial reduced their price objective on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, December 13th. US Capital Advisors cut Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group raised their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Targa Resources presently has a consensus 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.