Dividend Assets Capital LLC Cuts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Dividend Assets Capital LLC lowered its stake in Targa Resources Corp. (NYSE:TRGP) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,736 shares of the pipeline company’s stock after selling 3,033 shares during the quarter. Dividend Assets Capital LLC’s holdings in Targa Resources were worth $1,381,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. DT Investment Partners LLC bought a new position in Targa Resources during the 3rd quarter valued at $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources in the 3rd quarter valued at about $35,000. Aspect Partners LLC lifted its position in shares of Targa Resources by 144.4% during the fourth quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Targa Resources in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group increased their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays boosted 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. Wells Fargo & Company raised their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho boosted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $203.77.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $200.89 on Friday. The firm’s 50 day moving average is $195.58 and its two-hundred day moving average is $175.41. The firm has a market capitalization of $43.81 billion, a P/E ratio of 35.00, a PEG ratio of 0.61 and a beta of 2.29. 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 52 week low of $95.88 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 52.26%.

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.