Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its holdings in Targa Resources Corp. (NYSE:TRGP) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,797 shares of the pipeline company’s stock after purchasing an additional 775 shares during the period. Summit Trail Advisors LLC’s holdings in Targa Resources were worth $856,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after buying an additional 633,589 shares in the last quarter. National Bank of Canada FI increased its stake in Targa Resources by 75.4% during the 3rd quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock worth $89,413,000 after buying an additional 259,776 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Targa Resources by 599.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock worth $42,619,000 after buying an additional 246,762 shares in the last quarter. International Assets Investment Management LLC boosted its position in Targa Resources by 14,163.5% in the 3rd 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 during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Targa Resources by 1,904.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company’s stock valued at $29,596,000 after acquiring an additional 189,984 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of recent analyst reports. Scotiabank started coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price on the stock. 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. Bank of America assumed coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. Barclays boosted their target price on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Truist Financial decreased their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Stock Down 1.3 %

Shares of TRGP stock opened at $203.33 on Wednesday. Targa Resources Corp. has a 1 year low of $87.37 and a 1 year high of $218.51. 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 business’s fifty day moving average is $193.30 and its 200-day moving average is $171.95. The stock has a market cap of $44.34 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.