Venturi Wealth Management LLC Increases Stake in Targa Resources Corp. (NYSE:TRGP)

Venturi Wealth Management LLC boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 84.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 981 shares of the pipeline company’s stock after acquiring an additional 449 shares during the quarter. Venturi Wealth Management LLC’s holdings in Targa Resources were worth $175,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRGP. Sequoia Financial Advisors LLC raised its position in Targa Resources by 21.6% during the third quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company’s stock valued at $679,000 after acquiring an additional 815 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Targa Resources by 14,163.5% in the third quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock valued at $30,232,000 after buying an additional 202,822 shares in the last quarter. Great Lakes Retirement Inc. purchased a new stake in shares of Targa Resources in the third quarter valued at approximately $547,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Targa Resources by 59.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,840 shares of the pipeline company’s stock valued at $2,048,000 after buying an additional 5,143 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Targa Resources by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 74,841 shares of the pipeline company’s stock valued at $11,077,000 after buying an additional 19,902 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRGP has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective for the company. Wells Fargo & Company boosted their price objective on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial cut their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. The Goldman Sachs Group boosted their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus boosted their price objective on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $203.77.

Targa Resources Stock Performance

NYSE TRGP opened at $200.89 on Friday. The stock’s fifty day moving average is $195.58 and its two-hundred day moving average is $175.41. The firm has a market capitalization of $43.81 billion, a P/E ratio of 36.33, 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 quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a fifty-two week low of $95.88 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. On average, research analysts anticipate that Targa Resources Corp. will post 6.36 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Targa Resources Company 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.