32,405 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 32,405 shares of the pipeline company’s stock, valued at approximately $5,784,000.

Other hedge funds have also recently modified their holdings of the company. DT Investment Partners LLC acquired a new stake in shares of Targa Resources during the third quarter worth $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources during the third quarter worth $35,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Targa Resources by 49.4% during 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 acquired a new stake in shares of Targa Resources during the fourth quarter worth $49,000. Finally, UMB Bank n.a. lifted its holdings in shares of Targa Resources by 39.6% during the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Trading Up 0.5 %

Targa Resources stock opened at $205.51 on Tuesday. The stock has a market cap 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 stock has a 50-day moving average price of $193.87 and a 200 day moving average price of $173.92. Targa Resources Corp. has a 52 week low of $88.50 and a 52 week high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

TRGP has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group increased their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. 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. Finally, UBS Group raised their price target on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One 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 MarketBeat, Targa Resources currently has a consensus rating of “Buy” and an average price target 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.