Yousif Capital Management LLC Has $5.03 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Yousif Capital Management LLC lowered its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,187 shares of the pipeline company’s stock after selling 9,800 shares during the period. Yousif Capital Management LLC’s holdings in Targa Resources were worth $5,031,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Truist Financial decreased their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Stock Performance

Shares of TRGP opened at $198.72 on Friday. The stock has a 50 day moving average of $193.19 and a 200 day moving average of $170.26. The company has a market capitalization of $43.33 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 12 month low of $85.73 and a 12 month high of $218.51. 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 (NYSE:TRGP) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period last year, the firm posted $0.97 EPS. As a group, sell-side analysts forecast that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio 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.