1,214 Shares in Targa Resources Corp. (NYSE:TRGP) Acquired by Conning Inc.

Conning Inc. bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,214 shares of the pipeline company’s stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in TRGP. Realta Investment Advisors lifted its stake in Targa Resources by 12.7% during the fourth quarter. Realta Investment Advisors now owns 1,655 shares of the pipeline company’s stock valued at $308,000 after buying an additional 186 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Targa Resources by 2.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,357 shares of the pipeline company’s stock valued at $4,169,000 after acquiring an additional 535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Targa Resources by 31.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,520 shares of the pipeline company’s stock worth $7,373,000 after purchasing an additional 9,927 shares during the period. Spirit of America Management Corp NY grew its position in Targa Resources by 1.5% during the 4th quarter. Spirit of America Management Corp NY now owns 62,333 shares of the pipeline company’s stock worth $11,126,000 after purchasing an additional 950 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in Targa Resources by 7.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 1,714 shares of the pipeline company’s stock valued at $306,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

TRGP opened at $201.30 on Monday. 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 cap of $43.90 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The stock has a 50-day moving average of $193.07 and a 200-day moving average of $171.15. Targa Resources Corp. has a 52-week low of $86.56 and a 52-week high of $218.51.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

Wall Street Analyst Weigh In

TRGP has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. 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. Morgan Stanley increased their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group increased their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $189.21.

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.