Apollon Wealth Management LLC Lowers Holdings in Targa Resources Corp. (NYSE:TRGP)

Apollon Wealth Management LLC reduced its holdings in Targa Resources Corp. (NYSE:TRGP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,499 shares of the pipeline company’s stock after selling 233 shares during the quarter. Apollon Wealth Management LLC’s holdings in Targa Resources were worth $3,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DT Investment Partners LLC purchased a new stake in Targa Resources during the third quarter valued at about $29,000. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the third quarter worth $35,000. Rosenberg Matthew Hamilton grew its holdings in Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares during the last quarter. UMB Bank n.a. raised its stake 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 valued at $67,000 after acquiring an additional 106 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TRGP shares. UBS Group upped their target price on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price on the stock. Barclays raised their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Bank of America assumed coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $201.30 on Friday. The firm has a market cap of $43.90 billion, a P/E ratio of 36.40, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a twelve month low of $86.56 and a twelve month high of $218.51. 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 company has a 50 day moving average of $193.07 and a 200 day moving average of $170.90.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.