Valley Brook Capital Group Inc. Sells 75 Shares of Targa Resources Corp. (NYSE:TRGP)

Valley Brook Capital Group Inc. lowered its position in Targa Resources Corp. (NYSE:TRGP) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,225 shares of the pipeline company’s stock after selling 75 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Targa Resources were worth $397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRGP. DT Investment Partners LLC bought a new stake in Targa Resources during the 3rd quarter valued at $29,000. Prospera Private Wealth LLC bought a new stake in Targa Resources during the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton boosted its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Targa Resources during the 4th quarter valued at $49,000. Finally, UMB Bank n.a. boosted its position 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 worth $67,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources Trading Down 1.3 %

TRGP stock opened at $203.33 on Wednesday. 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 12-month low of $87.37 and a 12-month high of $218.51. The stock has a market cap of $44.34 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 0.59 and a beta of 2.29. The business’s 50-day moving average is $193.30 and its 200 day moving average is $171.95.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 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.