Maryland Capital Advisors Inc. Decreases Position in Targa Resources Corp. (NYSE:TRGP)

Maryland Capital Advisors Inc. decreased its position in Targa Resources Corp. (NYSE:TRGP) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524 shares of the pipeline company’s stock after selling 334 shares during the period. Maryland Capital Advisors Inc.’s holdings in Targa Resources were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd purchased a new position in Targa Resources in the 4th quarter worth $16,728,000. Asset Management One Co. Ltd. raised its stake in Targa Resources by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company’s stock worth $14,152,000 after acquiring an additional 2,087 shares during the last quarter. Avestar Capital LLC purchased a new position in Targa Resources in the 4th quarter worth $222,000. McClarren Financial Advisors Inc. raised its stake in Targa Resources by 18.9% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,084 shares of the pipeline company’s stock worth $193,000 after acquiring an additional 172 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Targa Resources during the 4th quarter worth about $5,784,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group increased their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Scotiabank assumed coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target on the stock. Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company raised 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 research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Trading Up 0.5 %

TRGP opened at $205.51 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company’s 50 day simple moving average is $193.65 and its two-hundred day simple moving average is $172.87. Targa Resources Corp. has a 1-year low of $88.50 and a 1-year high of $218.51. The firm has a market capitalization 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.

Targa Resources Dividend Announcement

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

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.