RPS Advisory Solutions LLC Acquires New Shares in Targa Resources Corp. (NYSE:TRGP)

RPS Advisory Solutions LLC bought a new position in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,336 shares of the pipeline company’s stock, valued at approximately $595,000.

Several other hedge funds have also recently bought and sold shares of TRGP. Creative Planning boosted its position in 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 during the period. Blue Trust Inc. lifted its stake in shares of Targa Resources by 75.1% in the third quarter. Blue Trust Inc. now owns 2,611 shares of the pipeline company’s stock worth $386,000 after buying an additional 1,120 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Targa Resources by 4.8% during the 3rd quarter. Raymond James & Associates now owns 239,805 shares of the pipeline company’s stock worth $35,494,000 after buying an additional 10,970 shares during the period. Sequoia Financial Advisors LLC grew its stake in Targa Resources by 21.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company’s stock valued at $679,000 after buying an additional 815 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Targa Resources by 1.9% in the 3rd quarter. Signaturefd LLC now owns 8,287 shares of the pipeline company’s stock worth $1,226,000 after acquiring an additional 152 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRGP shares. 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 report on Friday, December 13th. The Goldman Sachs Group raised their target price on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Mizuho lifted their price target on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, UBS Group boosted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One 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 stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Buy” and an average target price of $196.07.

Targa Resources Stock Performance

NYSE TRGP opened at $204.93 on Friday. Targa Resources Corp. has a twelve month low of $95.88 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 stock has a market cap of $44.69 billion, a P/E ratio of 37.06, a PEG ratio of 0.62 and a beta of 2.29. The company’s 50-day simple moving average is $195.20 and its 200 day simple moving average is $175.21.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. As a group, research analysts forecast that Targa Resources Corp. will post 6.36 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.46%. Targa Resources’s dividend payout ratio is currently 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.