Targa Resources Corp. (NYSE:TRGP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 882,667 shares of the pipeline company’s stock after selling 18,163 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Targa Resources were worth $161,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the third quarter valued at about $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources during the 3rd quarter valued at about $35,000. Rosenberg Matthew Hamilton raised its stake in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. Stonebridge Financial Group LLC acquired a new position in Targa Resources during the fourth quarter worth $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 valued at $67,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRGP shares. 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 report on Friday, November 15th. Barclays increased their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Truist Financial reduced their price objective 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. Finally, The Goldman Sachs Group lifted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One equities research 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 stock. According to MarketBeat.com, Targa Resources has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Price Performance

Shares of TRGP opened at $203.33 on Wednesday. The stock has a fifty day moving average price of $193.30 and a 200 day moving average price of $171.95. The company has a market cap of $44.34 billion, a P/E ratio of 36.77, a PEG ratio of 0.59 and a beta of 2.29. 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 Corp. has a 12 month low of $87.37 and a 12 month high of $218.51.

Targa Resources Dividend Announcement

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