Targa Resources Corp. (NYSE:TRGP) Shares Sold by Hardy Reed LLC

Hardy Reed LLC lessened its stake in Targa Resources Corp. (NYSE:TRGP) by 31.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,389 shares of the pipeline company’s stock after selling 1,522 shares during the period. Hardy Reed LLC’s holdings in Targa Resources were worth $605,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in 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 acquiring an additional 633,589 shares during the period. Geode Capital Management LLC boosted its holdings in Targa Resources by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after purchasing an additional 97,583 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Targa Resources by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after purchasing an additional 14,287 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Targa Resources by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after purchasing an additional 96,268 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock valued at $153,124,000 after purchasing an additional 168,602 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Trading Up 0.4 %

Shares of TRGP opened at $210.19 on Thursday. The stock has a fifty day moving average of $194.72 and a two-hundred day moving average of $174.96. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $45.83 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 0.62 and a beta of 2.29. Targa Resources Corp. has a fifty-two week low of $95.28 and a fifty-two week high of $218.51.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.43%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRGP shares. Scotiabank started coverage on Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective on the stock. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Morgan Stanley boosted their price target on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price target on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $189.21.

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.