Aspect Partners LLC Acquires 130 Shares of Targa Resources Corp. (NYSE:TRGP)

Aspect Partners LLC raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 144.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220 shares of the pipeline company’s stock after purchasing an additional 130 shares during the quarter. Aspect Partners LLC’s holdings in Targa Resources were worth $39,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. MML Investors Services LLC boosted its position in Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after buying an additional 10,100 shares during the period. Nordea Investment Management AB raised its stake in shares of Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after acquiring an additional 13,167 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares during the period. Atomi Financial Group Inc. bought a new position in Targa Resources in the fourth quarter worth approximately $271,000. Finally, Braun Stacey Associates Inc. purchased a new position in Targa Resources during the 3rd quarter worth $11,042,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRGP. UBS Group upped 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. Morgan Stanley increased their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial reduced their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. The Goldman Sachs Group increased their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Scotiabank assumed coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective for the company. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Up 0.4 %

Shares of TRGP stock opened at $210.19 on Thursday. The stock’s fifty day moving average price is $194.72 and its 200 day moving average price is $174.96. Targa Resources Corp. has a 1-year low of $95.28 and a 1-year high of $218.51. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 0.62 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 Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

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.