Targa Resources Corp. (NYSE:TRGP) Position Lessened by Lyell Wealth Management LP

Lyell Wealth Management LP trimmed its position in shares of Targa Resources Corp. (NYSE:TRGP) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,856 shares of the pipeline company’s stock after selling 70 shares during the period. Lyell Wealth Management LP’s holdings in Targa Resources were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. DT Investment Partners LLC purchased a new stake in shares of Targa Resources during the third quarter worth $29,000. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources during the third quarter worth $35,000. Rosenberg Matthew Hamilton raised its holdings in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Targa Resources during the fourth quarter worth $49,000. Finally, UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 106 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Up 1.9 %

NYSE TRGP opened at $209.29 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock’s 50 day moving average is $194.24 and its two-hundred day moving average is $174.41. The company has a market capitalization of $45.64 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a 1-year low of $95.28 and a 1-year high of $218.51.

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 issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

Analysts Set New Price Targets

TRGP has been the topic of several recent research reports. Royal Bank of Canada raised their target price on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price target on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their price target on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley raised their price target on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $189.21.

About Targa Resources

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.