Targa Resources Corp. (NYSE:TRGP) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,700 shares of the pipeline company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Targa Resources were worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the third quarter worth about $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources in the 3rd quarter valued at approximately $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 worth $48,000 after acquiring an additional 89 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Targa Resources during the 4th quarter worth $49,000. Finally, UMB Bank n.a. lifted its stake in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

NYSE TRGP opened at $205.51 on Friday. Targa Resources Corp. has a twelve month low of $88.50 and a twelve month high of $218.51. The business’s 50-day moving average price is $193.65 and its 200 day moving average price is $172.87. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $44.81 billion, a PE ratio of 37.16, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. Targa Resources’s payout ratio is 54.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRGP. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Barclays raised their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Scotiabank assumed coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective on the stock. The Goldman Sachs Group upped their price target on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $189.21.

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.