Allspring Global Investments Holdings LLC Trims Position in Targa Resources Corp. (NYSE:TRGP)

Allspring Global Investments Holdings LLC decreased its holdings in Targa Resources Corp. (NYSE:TRGP) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 882,667 shares of the pipeline company’s stock after selling 18,163 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.40% of Targa Resources worth $161,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Buckley Wealth Management LLC grew its holdings in shares of Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after buying an additional 65 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock worth $540,000 after purchasing an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 84 shares in the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Targa Resources by 3.9% in the fourth quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. The Goldman Sachs Group increased their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus raised their price target on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group upped their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank began coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price on the stock. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $189.21.

Targa Resources Stock Down 1.3 %

Shares of Targa Resources stock opened at $203.33 on Wednesday. Targa Resources Corp. has a 1 year low of $87.37 and a 1 year high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a market cap of $44.34 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 0.59 and a beta of 2.29. The firm’s 50-day moving average is $193.30 and its two-hundred day moving average is $171.95.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.48%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Targa Resources 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.