Targa Resources Corp. (NYSE:TRGP) Shares Sold by Hardy Reed LLC

Hardy Reed LLC trimmed its position in shares of Targa Resources Corp. (NYSE:TRGP) by 31.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,389 shares of the pipeline company’s stock after selling 1,522 shares during the period. Hardy Reed LLC’s holdings in Targa Resources were worth $605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. DT Investment Partners LLC acquired a new stake in Targa Resources in the 3rd quarter valued at $29,000. Prospera Private Wealth LLC acquired a new stake in Targa Resources in the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton increased its holdings in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Targa Resources in the 4th quarter valued at $49,000. Finally, UMB Bank n.a. increased its holdings 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 purchasing an additional 106 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank assumed coverage on Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target for the company. Royal Bank of Canada increased their price target on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Wells Fargo & Company upped their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group upped 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. Finally, Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

Shares of TRGP stock opened at $210.19 on Thursday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a one year low of $95.28 and a one year high of $218.51. The company’s 50-day simple moving average is $194.72 and its 200-day simple moving average is $174.96. The stock has a market capitalization of $45.83 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 0.62 and a beta of 2.29.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. 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.