Diversified Trust Co lowered its stake in Targa Resources Corp (NYSE:TRGP) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,760 shares of the pipeline company’s stock after selling 3,999 shares during the quarter. Diversified Trust Co’s holdings in Targa Resources were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Targa Resources by 24.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after buying an additional 524 shares in the last quarter. Searle & CO. purchased a new position in shares of Targa Resources during the 4th quarter valued at about $200,000. Guyasuta Investment Advisors Inc. purchased a new position in shares of Targa Resources during the 3rd quarter valued at about $206,000. QCM Cayman Ltd. purchased a new position in shares of Targa Resources during the 2nd quarter valued at about $207,000. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Targa Resources during the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.
A number of equities analysts have commented on the company. BidaskClub raised Targa Resources from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Wells Fargo & Co cut Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Tuesday, November 7th. ValuEngine cut Targa Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $53.00 price target on shares of Targa Resources in a research note on Friday, November 3rd. Finally, Barclays reaffirmed a “hold” rating and issued a $50.00 price target on shares of Targa Resources in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.33.
Targa Resources Corp (NYSE TRGP) traded down $0.13 during midday trading on Friday, hitting $45.17. The company had a trading volume of 2,514,444 shares, compared to its average volume of 1,916,880. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources Corp has a one year low of $39.59 and a one year high of $60.62. The company has a market capitalization of $9,740.14, a price-to-earnings ratio of -16.98 and a beta of 2.07.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 8.06%. The ex-dividend date is Wednesday, January 31st. Targa Resources’s dividend payout ratio (DPR) is -136.84%.
In other Targa Resources news, VP John Richard Klein sold 2,292 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $41.85, for a total value of $95,920.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.93% of the company’s stock.
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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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