Oppenheimer & Co. Inc. Sells 2,200 Shares of Targa Resources Corp. (NYSE:TRGP)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Targa Resources Corp. (NYSE:TRGPFree Report) by 45.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,650 shares of the pipeline company’s stock after selling 2,200 shares during the period. Oppenheimer & Co. Inc.’s holdings in Targa Resources were worth $227,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Targa Resources by 75.1% during the 2nd quarter. Bessemer Group Inc. now owns 338 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 145 shares during the period. Quarry LP purchased a new stake in shares of Targa Resources during the first quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Targa Resources by 231.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 470 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 328 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Targa Resources during the second quarter valued at approximately $47,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Targa Resources by 36.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 565 shares of the pipeline company’s stock valued at $48,000 after buying an additional 150 shares during the period. 90.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRGP shares. Barclays increased their price target on shares of Targa Resources from $94.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. UBS Group dropped their price objective on Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Finally, Truist Financial increased their price objective on Targa Resources from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $105.00.

Check Out Our Latest Report on Targa Resources

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $88.51 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 2.81. The firm has a market capitalization of $19.74 billion, a P/E ratio of 23.17 and a beta of 2.18. The business has a fifty day simple moving average of $85.58 and a two-hundred day simple moving average of $85.31. Targa Resources Corp. has a 12 month low of $64.85 and a 12 month high of $91.43.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. Targa Resources’s dividend payout ratio (DPR) is currently 52.36%.

Targa Resources Profile

(Free Report)

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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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