Targa Resources Corp. (NYSE:TRGP) Position Boosted by Navellier & Associates Inc.

Navellier & Associates Inc. boosted its position in Targa Resources Corp. (NYSE:TRGP) by 14.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 68,138 shares of the pipeline company’s stock after buying an additional 8,434 shares during the period. Targa Resources accounts for approximately 1.5% of Navellier & Associates Inc.’s holdings, making the stock its 12th biggest holding. Navellier & Associates Inc.’s holdings in Targa Resources were worth $12,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRGP. MML Investors Services LLC boosted its holdings in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after buying an additional 10,100 shares during the period. Nordea Investment Management AB lifted 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 acquiring an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC boosted 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 acquiring an additional 5,431 shares during the period. Atomi Financial Group Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at approximately $271,000. Finally, Braun Stacey Associates Inc. acquired a new stake in shares of Targa Resources during the 3rd quarter worth approximately $11,042,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Down 1.9 %

TRGP opened at $200.89 on Friday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $43.81 billion, a PE ratio of 35.00, a P/E/G ratio of 0.61 and a beta of 2.29. The stock’s fifty day moving average is $195.58 and its 200-day moving average is $175.41. Targa Resources Corp. has a one year low of $95.88 and a one year high of $218.51.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, equities analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

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 1.49%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRGP. Stifel Nicolaus upped their price objective on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Wells Fargo & Company upped their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada lifted their price objective 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. Truist Financial decreased their target price on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Barclays raised their price target on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Targa Resources presently has a consensus rating of “Buy” and an average price target of $203.77.

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.