Secured Retirement Advisors LLC Sells 2,710 Shares of Targa Resources Corp. (NYSE:TRGP)

Secured Retirement Advisors LLC trimmed its stake in Targa Resources Corp. (NYSE:TRGP) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,382 shares of the pipeline company’s stock after selling 2,710 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Targa Resources were worth $1,675,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after purchasing an additional 633,589 shares during the period. National Bank of Canada FI raised its stake in Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock valued at $89,413,000 after buying an additional 259,776 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Targa Resources by 599.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock valued at $42,619,000 after buying an additional 246,762 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Targa Resources by 14,163.5% during the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock worth $30,232,000 after acquiring an additional 202,822 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Targa Resources by 1,904.8% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company’s stock worth $29,596,000 after acquiring an additional 189,984 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

NYSE TRGP opened at $205.51 on Friday. The firm’s 50 day simple moving average is $193.87 and its 200 day simple moving average is $173.65. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 0.59 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 1 year low of $88.50 and a 1 year high of $218.51.

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 paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Targa Resources’s payout ratio is 54.25%.

Analyst Ratings Changes

Several brokerages have issued reports on TRGP. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group raised their target price 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. Royal Bank of Canada upped their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. UBS Group increased their price target 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. Finally, Morgan Stanley boosted their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.