State of Alaska Department of Revenue Has $5.63 Million Stake in Targa Resources Corp. (NYSE:TRGP)

State of Alaska Department of Revenue lowered its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,539 shares of the pipeline company's stock after selling 3,890 shares during the period. State of Alaska Department of Revenue's holdings in Targa Resources were worth $5,628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Targa Resources by 4.4% in the third 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 in the last quarter. National Bank of Canada FI raised its holdings in shares of Targa Resources by 75.4% in the 3rd quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock worth $89,413,000 after buying an additional 259,776 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Targa Resources by 599.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company's stock worth $42,619,000 after buying an additional 246,762 shares during the period. International Assets Investment Management LLC boosted its stake in Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company's stock valued at $30,232,000 after buying an additional 202,822 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in Targa Resources by 1,904.8% in the third quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company's stock valued at $29,596,000 after acquiring an additional 189,984 shares during the period. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Down 1.3 %

Shares of TRGP traded down $2.64 on Tuesday, reaching $203.33. 1,476,988 shares of the company's stock were exchanged, compared to its average volume of 1,440,644. The business has a 50 day moving average price of $193.30 and a two-hundred day moving average price of $171.95. 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 Corp. has a 12 month low of $87.37 and a 12 month high of $218.51. The stock has a market capitalization of $44.34 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. Targa Resources's dividend payout ratio is currently 54.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRGP shares. Scotiabank began coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 target price on the stock. UBS Group lifted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company lifted 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. Finally, Bank of America assumed coverage on Targa Resources in a research note on Thursday, October 17th. They issued a "buy" rating and a $182.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus target price of $189.21.

Targa Resources Company 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.