Avestar Capital LLC Takes $222,000 Position in Targa Resources Corp. (NYSE:TRGP)

Avestar Capital LLC bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,246 shares of the pipeline company’s stock, valued at approximately $222,000.

Several other institutional investors have also recently added to or reduced their stakes in TRGP. DT Investment Partners LLC bought a new position in shares of Targa Resources in the third quarter valued at approximately $29,000. Prospera Private Wealth LLC acquired a new stake in Targa Resources during the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton increased its holdings in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Targa Resources in the 4th quarter valued at $49,000. Finally, UMB Bank n.a. grew its holdings in shares of Targa Resources by 39.6% during the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $205.51 on Friday. The company has a market capitalization of $44.81 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 0.59 and a beta of 2.29. The firm’s 50 day simple moving average is $193.87 and its 200 day simple moving average is $173.65. 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 fifty-two week low of $88.50 and a fifty-two week high of $218.51.

Targa Resources Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TRGP shares. Wells Fargo & Company upped their price target on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley upped their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Truist Financial lowered their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Company 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.