Targa Resources Corp. (NYSE:TRGP) Stake Increased by Visionary Horizons LLC

Visionary Horizons LLC raised its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,805 shares of the pipeline company’s stock after acquiring an additional 231 shares during the quarter. Targa Resources makes up 0.6% of Visionary Horizons LLC’s portfolio, making the stock its 26th biggest position. Visionary Horizons LLC’s holdings in Targa Resources were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TRGP. MML Investors Services LLC boosted its holdings in Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB boosted its stake in Targa Resources by 85.7% during the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after purchasing an additional 13,167 shares during the period. Braun Stacey Associates Inc. bought a new position in Targa Resources in the 3rd quarter worth about $11,042,000. Capital Investment Advisors LLC increased its stake in shares of Targa Resources by 191.4% in the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares during the period. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $271,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Up 1.2 %

TRGP stock opened at $201.30 on Friday. The firm has a market cap of $43.90 billion, a PE ratio of 36.40, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 1 year low of $86.56 and a 1 year high of $218.51. The company has a fifty day simple moving average of $193.07 and a 200 day simple moving average of $170.90. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

TRGP has been the topic of several analyst reports. Truist Financial lowered their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. 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 note on Wednesday, December 18th. Finally, UBS Group raised their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Targa Resources has a consensus rating of “Buy” and an average 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.