Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 1,312.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,052 shares of the pipeline company’s stock after buying an additional 43,721 shares during the period. Empowered Funds LLC’s holdings in Targa Resources were worth $8,399,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the 3rd quarter valued at $29,000. Prospera Private Wealth LLC acquired a new stake in Targa Resources in the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton raised its position in Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares during the period. UMB Bank n.a. lifted its stake 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 in the last quarter. Finally, Huntington National Bank boosted its position in shares of Targa Resources by 22.9% in the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after buying an additional 89 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TRGP. 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 report on Thursday, December 19th. Bank of America began coverage on shares of Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price on the stock. Barclays raised their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Truist Financial cut their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. 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. Based on data from MarketBeat.com, Targa Resources presently has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Stock Up 1.2 %

NYSE: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 capitalization of $43.90 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a one year low of $86.56 and a one year high of $218.51. The stock has a 50-day simple moving average of $193.07 and a 200 day simple moving average of $171.15.

Targa Resources Dividend Announcement

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