1,124 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Trust Point Inc.

Trust Point Inc. acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,124 shares of the pipeline company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Targa Resources by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 32,519 shares of the pipeline company’s stock valued at $4,188,000 after buying an additional 1,467 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Targa Resources in the third quarter valued at approximately $242,000. Czech National Bank grew its holdings in Targa Resources by 5.6% in the third quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock worth $6,605,000 after purchasing an additional 2,377 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Targa Resources by 42.5% during the third quarter. GAMMA Investing LLC now owns 3,440 shares of the pipeline company’s stock worth $509,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Targa Resources during the third quarter worth $728,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TRGP shares. Truist Financial dropped their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada upped their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Bank of America assumed coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One investment 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 stock. According to data from MarketBeat, Targa Resources presently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Down 2.8 %

Targa Resources stock opened at $198.72 on Friday. Targa Resources Corp. has a 52 week low of $85.73 and a 52 week high of $218.51. The firm has a market cap of $43.33 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The business’s 50-day moving average price is $193.19 and its 200 day moving average price is $170.26. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s payout ratio is 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.