Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,797 shares of the pipeline company’s stock after purchasing an additional 775 shares during the period. Summit Trail Advisors LLC’s holdings in Targa Resources were worth $856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in Targa Resources by 4.4% during the 3rd 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. Geode Capital Management LLC boosted its position in shares of Targa Resources by 1.7% in the third quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock worth $843,680,000 after buying an additional 97,583 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Targa Resources by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after buying an additional 14,287 shares during the period. JPMorgan Chase & Co. lifted its stake in Targa Resources by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock worth $186,139,000 after acquiring an additional 96,268 shares in the last quarter. Finally, Barclays PLC boosted its position in Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock worth $153,124,000 after acquiring an additional 168,602 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $203.33 on Wednesday. The business’s 50-day simple moving average is $193.30 and its 200-day simple moving average is $171.95. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a 52 week low of $87.37 and a 52 week high of $218.51. The firm has a market cap of $44.34 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 0.59 and a beta of 2.29.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.48%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRGP. Barclays upped their target price on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada lifted their price objective on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $189.21.

About Targa Resources

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.