V Square Quantitative Management LLC Sells 441 Shares of Targa Resources Corp. (NYSE:TRGP)

V Square Quantitative Management LLC lessened its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,590 shares of the pipeline company’s stock after selling 441 shares during the quarter. V Square Quantitative Management LLC’s holdings in Targa Resources were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. DT Investment Partners LLC purchased a new stake in Targa Resources in the 3rd quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new position in shares of Targa Resources in the third quarter worth approximately $35,000. Rosenberg Matthew Hamilton boosted its position in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth $49,000. Finally, UMB Bank n.a. raised its position in shares of Targa Resources by 39.6% during 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 during the period. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their target price on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial decreased their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Scotiabank assumed coverage on Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Stock Performance

NYSE TRGP opened at $205.51 on Friday. The stock has a market capitalization of $44.81 billion, a PE ratio of 37.16, a P/E/G ratio of 0.59 and a beta of 2.29. The business has a 50 day simple moving average of $193.87 and a two-hundred day simple moving average of $173.65. 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 Corp. has a 1-year low of $88.50 and a 1-year high of $218.51.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 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.