Axecap Investments LLC Boosts Holdings in Targa Resources Corp. (NYSE:TRGP)

Axecap Investments LLC grew its holdings in Targa Resources Corp. (NYSE:TRGP) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,766 shares of the pipeline company’s stock after acquiring an additional 835 shares during the quarter. Targa Resources accounts for approximately 3.1% of Axecap Investments LLC’s investment portfolio, making the stock its 9th biggest position. Axecap Investments LLC’s holdings in Targa Resources were worth $4,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the 3rd quarter worth approximately $29,000. Prospera Private Wealth LLC acquired a new position in Targa Resources in the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton lifted its position in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Targa Resources in the fourth quarter worth $49,000. Finally, UMB Bank n.a. lifted its position in Targa Resources by 39.6% during the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 106 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRGP. Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays upped their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America began coverage on Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One 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 data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $189.21.

Targa Resources Stock Performance

Targa Resources stock opened at $205.87 on Tuesday. The company has a market capitalization of $44.89 billion, a PE ratio of 37.23, a P/E/G ratio of 0.59 and a beta of 2.29. The firm has a fifty day simple moving average of $193.07 and a two-hundred day simple moving average of $171.43. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a twelve month low of $87.37 and a twelve month high of $218.51.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.46%. Targa Resources’s payout ratio is 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.