New York State Teachers Retirement System Has $23.70 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

New York State Teachers Retirement System decreased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,792 shares of the pipeline company’s stock after selling 236 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Targa Resources worth $23,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRGP. DT Investment Partners LLC acquired a new stake in shares of Targa Resources during the third quarter valued at about $29,000. Prospera Private Wealth LLC bought a new position in Targa Resources in the 3rd quarter valued at approximately $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 worth $48,000 after buying an additional 89 shares during the period. Stonebridge Financial Group LLC bought a new stake in Targa Resources during the 4th quarter worth approximately $49,000. Finally, UMB Bank n.a. increased its position 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 acquiring an additional 106 shares during the period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 0.5 %

NYSE:TRGP opened at $205.51 on Friday. Targa Resources Corp. has a 12 month low of $88.50 and a 12 month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $44.81 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.59 and a beta of 2.29. The firm has a fifty day simple moving average of $193.87 and a two-hundred day simple moving average of $173.65.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given 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 payout ratio is 54.25%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group lifted their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group increased their target price 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, Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $189.21.

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.