Targa Resources Corp. (NYSE:TRGP) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 10.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,612 shares of the pipeline company’s stock after selling 183 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Targa Resources were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Buckley Wealth Management LLC raised its position in shares of Targa Resources by 0.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 65 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares in the last quarter. Mather Group LLC. raised its position in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 84 shares in the last quarter. Finally, Catalina Capital Group LLC raised its position in shares of Targa Resources by 3.9% in the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 85 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Trading Up 1.8 %

Shares of Targa Resources stock opened at $204.22 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $44.53 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The business has a fifty day simple moving average of $193.53 and a 200-day simple moving average of $172.65. Targa Resources Corp. has a fifty-two week low of $87.92 and a fifty-two week high of $218.51.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TRGP shares. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. Scotiabank started coverage on Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target for the company. Truist Financial lowered their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Stifel Nicolaus boosted their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price target on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.