Targa Resources Corp (NYSE:TRGP) Shares Sold by Homrich & Berg
Homrich & Berg lessened its holdings in shares of Targa Resources Corp (NYSE:TRGP) by 83.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,435 shares of the pipeline company’s stock after selling 31,521 shares during the period. Homrich & Berg’s holdings in Targa Resources were worth $312,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Toronto Dominion Bank grew its position in Targa Resources by 4.7% in the 2nd quarter. Toronto Dominion Bank now owns 14,834 shares of the pipeline company’s stock worth $671,000 after purchasing an additional 669 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Targa Resources by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,723 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 990 shares during the last quarter. Grassi Investment Management grew its position in Targa Resources by 3.0% in the 4th quarter. Grassi Investment Management now owns 35,411 shares of the pipeline company’s stock worth $1,715,000 after purchasing an additional 1,016 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Targa Resources by 21.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,257 shares of the pipeline company’s stock worth $283,000 after purchasing an additional 1,099 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Targa Resources by 6.5% in the fourth quarter. IFP Advisors Inc now owns 18,968 shares of the pipeline company’s stock valued at $918,000 after acquiring an additional 1,152 shares in the last quarter. 90.31% of the stock is owned by institutional investors and hedge funds.
Shares of Targa Resources Corp (NYSE TRGP) opened at $46.35 on Friday. Targa Resources Corp has a one year low of $39.59 and a one year high of $60.62. The company has a market cap of $10,140.00, a P/E ratio of -28.61 and a beta of 2.05. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 7.85%. The ex-dividend date of this dividend was Wednesday, January 31st. Targa Resources’s dividend payout ratio is presently -224.69%.
Several research analysts have recently issued reports on TRGP shares. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective on shares of Targa Resources in a report on Friday, February 16th. Seaport Global Securities set a $52.00 price objective on shares of Targa Resources and gave the company a “buy” rating in a report on Wednesday, February 14th. Citigroup increased their price objective on shares of Targa Resources from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Goldman Sachs Group upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of Targa Resources in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources has a consensus rating of “Hold” and a consensus price target of $54.76.
Targa Resources Company Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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