Targa Resources Corp. (NYSE:TRGP) Position Raised by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its position in Targa Resources Corp. (NYSE:TRGP) by 134.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,297 shares of the pipeline company’s stock after buying an additional 1,319 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Targa Resources were worth $410,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRGP. MML Investors Services LLC boosted its position in shares of Targa Resources by 65.1% during the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after purchasing an additional 10,100 shares in the last quarter. Nordea Investment Management AB lifted its stake in Targa Resources by 85.7% during the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after purchasing an additional 13,167 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 5,431 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Targa Resources during the third quarter worth approximately $11,042,000. Finally, Atomi Financial Group Inc. acquired a new position in Targa Resources in the fourth quarter worth approximately $271,000. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TRGP. Stifel Nicolaus raised 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. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial cut their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company boosted their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Bank of America began coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Trading Down 1.3 %

Targa Resources stock opened at $203.33 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a one year low of $87.37 and a one year high of $218.51. The company’s fifty day moving average price is $193.30 and its two-hundred day moving average price is $171.95.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

Targa Resources Company 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.