Americana Partners LLC Purchases 61,964 Shares of Targa Resources Corp. (NYSE:TRGP)

Americana Partners LLC increased its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 554.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,136 shares of the pipeline company's stock after purchasing an additional 61,964 shares during the quarter. Americana Partners LLC's holdings in Targa Resources were worth $13,055,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TRGP. DT Investment Partners LLC bought a new position in shares of Targa Resources during the 3rd quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new position in shares of Targa Resources during the 3rd quarter worth approximately $35,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock valued at $48,000 after buying an additional 89 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Targa Resources in the 4th quarter valued at approximately $49,000. Finally, UMB Bank n.a. boosted its holdings in shares of Targa Resources by 39.6% in the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company's stock valued at $67,000 after buying an additional 106 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Targa Resources Trading Down 0.1 %

TRGP traded down $0.29 during trading on Wednesday, hitting $209.16. The company's stock had a trading volume of 997,168 shares, compared to its average volume of 1,407,666. Targa Resources Corp. has a twelve month low of $95.28 and a twelve month high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock's fifty day moving average price is $194.72 and its 200-day moving average price is $174.96. The firm has a market capitalization of $45.61 billion, a P/E ratio of 37.88, a PEG ratio of 0.61 and a beta of 2.29.

Targa Resources Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on TRGP shares. Barclays raised their price target on Targa Resources from $171.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on Targa Resources from $190.00 to $204.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Morgan Stanley raised their price target on Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, October 25th. UBS Group raised their price target on Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Truist Financial cut their price target on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, December 13th. 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $189.21.

About Targa Resources

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.