Targa Resources Corp. (NYSE:TRGP) Shares Sold by Values First Advisors Inc.

Values First Advisors Inc. cut its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 35.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512 shares of the pipeline company's stock after selling 1,378 shares during the quarter. Values First Advisors Inc.'s holdings in Targa Resources were worth $448,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target 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. Stifel Nicolaus raised their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Scotiabank assumed coverage on shares of Targa Resources in a report on Friday, January 10th. They set a "sector outperform" rating and a $218.00 price target for the company. Wells Fargo & Company raised their price target on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Targa Resources has an average rating of "Buy" and a consensus price target of $189.21.

Targa Resources Stock Up 0.5 %

Shares of Targa Resources stock traded up $1.09 during trading on Friday, hitting $205.51. 1,181,708 shares of the stock were exchanged, compared to its average volume of 1,412,816. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The firm's 50-day moving average price is $193.87 and its 200 day moving average price is $173.65. Targa Resources Corp. has a 12-month low of $88.50 and a 12-month high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources Dividend Announcement

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

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.