Targa Resources Corp. (NYSE:TRGP) Shares Sold by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC lowered its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,468 shares of the pipeline company’s stock after selling 318 shares during the period. Targa Resources accounts for 1.1% of Mezzasalma Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Mezzasalma Advisors LLC’s holdings in Targa Resources were worth $3,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares 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 purchased a new position in Targa Resources during the 3rd quarter worth $35,000. Rosenberg Matthew Hamilton lifted its stake in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares during the period. UMB Bank n.a. boosted its holdings in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 106 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Targa Resources by 22.9% during the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after acquiring an additional 89 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TRGP shares. Royal Bank of Canada raised their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Truist Financial decreased their price target 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. Barclays increased their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $201.30 on Friday. Targa Resources Corp. has a one year low of $86.56 and a one year high of $218.51. The stock 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 business’s fifty day moving average price is $193.13 and its two-hundred day moving average price is $170.46. 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 (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.97 EPS. On average, analysts forecast that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Announces Dividend

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