Secured Retirement Advisors LLC Sells 2,710 Shares of Targa Resources Corp. (NYSE:TRGP)

Secured Retirement Advisors LLC reduced its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,382 shares of the pipeline company's stock after selling 2,710 shares during the quarter. Secured Retirement Advisors LLC's holdings in Targa Resources were worth $1,675,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. CWM LLC grew its stake in shares of Targa Resources by 7.2% in the 3rd 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 last quarter. Creative Planning grew its holdings in shares of Targa Resources by 17.6% in the 3rd 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 during the last quarter. Bleakley Financial Group LLC raised its position in shares of Targa Resources by 70.1% during the third quarter. Bleakley Financial Group LLC now owns 12,578 shares of the pipeline company's stock worth $1,862,000 after purchasing an additional 5,185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Targa Resources by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,822 shares of the pipeline company's stock valued at $3,378,000 after purchasing an additional 153 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its position 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 during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on TRGP shares. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Truist Financial lowered their price target on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Wells Fargo & Company increased their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Barclays raised 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. Finally, Stifel Nicolaus upped their target price on Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $189.21.

Targa Resources Stock Up 0.4 %

NYSE TRGP traded up $0.74 during trading on Wednesday, hitting $210.19. 1,842,749 shares of the company traded hands, compared to its average volume of 1,435,398. The company has a market capitalization of $45.83 billion, a P/E ratio of 38.01, a PEG ratio of 0.61 and a beta of 2.29. The business has a fifty day simple moving average of $194.72 and a 200 day simple moving average of $174.96. Targa Resources Corp. has a 12 month low of $95.28 and a 12 month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, January 31st. Targa Resources's dividend payout ratio is currently 54.25%.

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.