Secured Retirement Advisors LLC Sells 2,710 Shares of Targa Resources Corp. (NYSE:TRGP)

Secured Retirement Advisors LLC trimmed its position in Targa Resources Corp. (NYSE:TRGP) by 22.4% in the fourth quarter, Holdings Channel reports. The fund owned 9,382 shares of the pipeline company’s stock after selling 2,710 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Targa Resources were worth $1,675,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TRGP. Principal Securities Inc. boosted its position in Targa Resources by 22.0% during the 4th quarter. Principal Securities Inc. now owns 571 shares of the pipeline company’s stock worth $102,000 after buying an additional 103 shares during the period. Montag A & Associates Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at $107,000. AustralianSuper Pty Ltd acquired a new position in shares of Targa Resources during the fourth quarter worth $16,728,000. Asset Management One Co. Ltd. grew its stake in shares of Targa Resources by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company’s stock worth $14,152,000 after purchasing an additional 2,087 shares during the last quarter. Finally, Avestar Capital LLC acquired a new stake in Targa Resources in the fourth quarter valued at $222,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $205.51 on Friday. The business has a 50-day simple moving average of $193.87 and a 200 day simple moving average of $173.65. Targa Resources Corp. has a one year low of $88.50 and a one year high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.59 and a beta of 2.29.

Targa Resources Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on TRGP. Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays lifted their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group increased their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price target 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. Finally, Truist Financial decreased 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. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.