Targa Resources Corp. (NYSE:TRGP) Shares Bought by Americana Partners LLC

Americana Partners LLC grew its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 554.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,136 shares of the pipeline company’s stock after purchasing an additional 61,964 shares during the period. Americana Partners LLC’s holdings in Targa Resources were worth $13,055,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRGP shares. UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley raised their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays raised their target price 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. Truist Financial lowered their target price on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Scotiabank assumed coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

Shares of TRGP opened at $205.51 on Monday. Targa Resources Corp. has a one year low of $88.50 and a one year high of $218.51. The company has a 50-day moving average of $193.87 and a two-hundred day moving average of $173.92. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.59 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, January 31st. 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.