Wilmington Savings Fund Society FSB Boosts Stake in Targa Resources Corp. (NYSE:TRGP)

Wilmington Savings Fund Society FSB increased its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 134.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,297 shares of the pipeline company's stock after acquiring an additional 1,319 shares during the period. Wilmington Savings Fund Society FSB's holdings in Targa Resources were worth $410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Buckley Wealth Management LLC boosted its position in shares of Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock valued at $1,469,000 after buying an additional 65 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Targa Resources by 0.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock valued at $1,153,000 after buying an additional 66 shares during the period. Mather Group LLC. boosted its position in shares of Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after buying an additional 68 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Targa Resources by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock valued at $321,000 after buying an additional 84 shares during the period. Finally, Catalina Capital Group LLC boosted its position in shares of Targa Resources by 3.9% during the fourth quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company's stock valued at $400,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Truist Financial decreased their price target on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Wells Fargo & Company lifted their price target on shares of Targa Resources from $190.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, Barclays lifted their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $189.21.

Targa Resources Stock Up 0.5 %

Shares of TRGP stock traded up $1.09 during trading hours on Friday, reaching $205.51. 1,181,708 shares of the company's stock were exchanged, compared to its average volume of 1,412,816. The stock's 50 day moving average is $193.87 and its 200-day moving average is $173.65. The company has a market cap of $44.81 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 0.59 and a beta of 2.29. 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 fifty-two week low of $88.50 and a fifty-two week high of $218.51.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources's payout ratio is presently 54.25%.

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.