Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. boosted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 76.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,589 shares of the pipeline company’s stock after purchasing an additional 56,984 shares during the quarter. Braun Stacey Associates Inc. owned approximately 0.06% of Targa Resources worth $23,489,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRGP. Creative Planning increased its stake in shares of Targa Resources by 17.6% during the third quarter. Creative Planning now owns 43,783 shares of the pipeline company’s stock worth $6,480,000 after purchasing an additional 6,546 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Targa Resources by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,822 shares of the pipeline company’s stock valued at $3,378,000 after acquiring an additional 153 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new position in shares of Targa Resources in the third quarter valued at approximately $237,000. Blue Trust Inc. increased its position in shares of Targa Resources by 75.1% during the third quarter. Blue Trust Inc. now owns 2,611 shares of the pipeline company’s stock worth $386,000 after purchasing an additional 1,120 shares in the last quarter. Finally, Capital Investment Advisors LLC acquired a new position in Targa Resources in the 3rd quarter valued at $420,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRGP shares. The Goldman Sachs Group upped their price objective 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. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays raised their target price on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price objective 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. One 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, the stock has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Price Performance

TRGP opened at $205.51 on Tuesday. The stock’s 50-day moving average price is $193.87 and its 200 day moving average price is $173.92. Targa Resources Corp. has a 12-month low of $88.50 and a 12-month high of $218.51. The firm has a market cap of $44.81 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.59 and a beta of 2.29. 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s payout ratio is currently 54.25%.

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.