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

Mezzasalma Advisors LLC lowered its position in Targa Resources Corp. (NYSE:TRGP) by 1.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,468 shares of the pipeline company’s stock after selling 318 shares during the quarter. Targa Resources accounts for 1.1% of Mezzasalma Advisors LLC’s holdings, 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 filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after purchasing an additional 633,589 shares in the last quarter. National Bank of Canada FI grew its stake in Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock worth $89,413,000 after purchasing an additional 259,776 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Targa Resources by 599.1% during 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 during the last quarter. International Assets Investment Management LLC increased its holdings in shares of 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 acquiring an additional 202,822 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Targa Resources by 1,904.8% during the 3rd 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. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial lowered their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company raised their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price target on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $189.21.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $201.30 on Friday. The stock has a market cap of $43.90 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 0.59 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 12 month low of $86.56 and a 12 month high of $218.51. The stock’s 50 day moving average price is $193.13 and its 200 day moving average price is $170.46.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same period in the previous year, the business earned $0.97 earnings per share. Equities research analysts anticipate that Targa Resources Corp. will post 6.41 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.75 per share. 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 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.