Targa Resources Corp. (NYSE:TRGP) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,638 shares of the pipeline company's stock after purchasing an additional 2,115 shares during the period. Van ECK Associates Corp's holdings in Targa Resources were worth $13,144,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Gladstone Institutional Advisory LLC raised its stake in Targa Resources by 22.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,157 shares of the pipeline company's stock worth $564,000 after purchasing an additional 575 shares during the period. Axecap Investments LLC raised its stake in Targa Resources by 3.8% during the fourth quarter. Axecap Investments LLC now owns 22,766 shares of the pipeline company's stock worth $4,064,000 after purchasing an additional 835 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Targa Resources in the 4th quarter valued at $49,000. Mill Creek Capital Advisors LLC purchased a new position in shares of Targa Resources in the 4th quarter valued at $311,000. Finally, Summit Trail Advisors LLC raised its stake in shares of Targa Resources by 19.3% in the 4th quarter. Summit Trail Advisors LLC now owns 4,797 shares of the pipeline company's stock valued at $856,000 after acquiring an additional 775 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Stock Up 0.4 %

TRGP stock traded up $0.74 during mid-day trading on Wednesday, hitting $210.19. 1,728,662 shares of the company were exchanged, compared to its average volume of 1,431,756. The firm has a fifty day simple moving average of $194.72 and a 200 day simple moving average of $174.96. 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 twelve month low of $95.28 and a twelve month high of $218.51. The company has a market capitalization of $45.83 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29.

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 $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Targa Resources's payout ratio is currently 54.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price 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. Barclays raised their target price 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. Stifel Nicolaus raised their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, UBS Group raised their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has a consensus 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.