Callahan Advisors LLC Invests $202,000 in Targa Resources Corp. (NYSE:TRGP)

Callahan Advisors LLC acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,133 shares of the pipeline company’s stock, valued at approximately $202,000.

Other institutional investors have also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Targa Resources in the fourth quarter worth about $5,784,000. Braun Stacey Associates Inc. raised its position in shares of Targa Resources by 76.4% in the 4th quarter. Braun Stacey Associates Inc. now owns 131,589 shares of the pipeline company’s stock valued at $23,489,000 after purchasing an additional 56,984 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Targa Resources by 84.4% in the 4th quarter. Venturi Wealth Management LLC now owns 981 shares of the pipeline company’s stock worth $175,000 after purchasing an additional 449 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Targa Resources by 4.1% during the fourth quarter. CIBC Asset Management Inc now owns 33,505 shares of the pipeline company’s stock worth $5,981,000 after buying an additional 1,323 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in shares of Targa Resources by 6.7% during the fourth quarter. Sanctuary Advisors LLC now owns 18,065 shares of the pipeline company’s stock valued at $3,225,000 after buying an additional 1,132 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of research reports. Scotiabank started coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Wells Fargo & Company lifted their target price on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Truist Financial cut their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Barclays raised their price target on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Morgan Stanley upped their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One 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 MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

NYSE TRGP opened at $209.29 on Wednesday. The stock has a market capitalization of $45.64 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 0.61 and a beta of 2.29. The stock has a 50-day moving average of $194.24 and a 200 day moving average of $174.41. 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 Corp. has a twelve month low of $95.28 and a twelve month high of $218.51.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

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.