Sumitomo Mitsui Trust Group Inc. Has $91.51 Million Position in Targa Resources Corp. (NYSE:TRGP)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,636 shares of the pipeline company's stock after selling 5,527 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Targa Resources worth $91,506,000 at the end of the most recent reporting period.

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

Targa Resources Stock Performance

NYSE:TRGP traded down $2.60 on Wednesday, hitting $200.57. The company's stock had a trading volume of 1,425,755 shares, compared to its average volume of 1,440,112. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a fifty day moving average of $193.42 and a two-hundred day moving average of $172.45. The firm has a market capitalization of $43.74 billion, a P/E ratio of 36.27, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a one year low of $87.44 and a one year high of $218.51.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.50%. Targa Resources's dividend payout ratio is 54.25%.

Wall Street Analyst Weigh In

TRGP has been the subject of a number of recent research reports. US Capital Advisors downgraded Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Stifel Nicolaus raised their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Bank of America started 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. Finally, UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target 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.