Great Lakes Retirement Inc. Trims Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Great Lakes Retirement Inc. decreased its position in Targa Resources Corp. (NYSE:TRGP) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,516 shares of the pipeline company’s stock after selling 182 shares during the period. Great Lakes Retirement Inc.’s holdings in Targa Resources were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRGP. CWM LLC raised its stake in Targa Resources by 7.2% in the 3rd quarter. CWM LLC now owns 5,358 shares of the pipeline company’s stock worth $793,000 after acquiring an additional 359 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Targa Resources by 50.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,000 shares of the pipeline company’s stock worth $148,000 after acquiring an additional 337 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Targa Resources in the 3rd quarter worth $226,000. Ritholtz Wealth Management raised its stake in Targa Resources by 9.6% in the 3rd quarter. Ritholtz Wealth Management now owns 5,024 shares of the pipeline company’s stock worth $744,000 after acquiring an additional 440 shares during the last quarter. Finally, CX Institutional purchased a new position in Targa Resources in the 3rd quarter worth $198,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

NYSE:TRGP opened at $200.57 on Thursday. Targa Resources Corp. has a 52 week low of $87.44 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $43.74 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The stock’s 50-day moving average price is $193.42 and its 200-day moving average price is $172.45.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, January 31st. Targa Resources’s payout ratio is 54.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRGP shares. Scotiabank started coverage on Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price for the company. Royal Bank of Canada lifted their price objective on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Bank of America assumed coverage on Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Morgan Stanley lifted their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the 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 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.