Boston Partners decreased its stake in Targa Resources Corp (NYSE:TRGP) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,462,060 shares of the pipeline company’s stock after selling 10,899 shares during the quarter. Boston Partners owned about 0.68% of Targa Resources worth $70,793,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in TRGP. Searle & CO. purchased a new position in Targa Resources during the 4th quarter valued at $200,000. Guyasuta Investment Advisors Inc. purchased a new position in Targa Resources during the 3rd quarter valued at $206,000. HITE Hedge Asset Management LLC purchased a new position in Targa Resources during the 3rd quarter valued at $208,000. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new position in Targa Resources during the 3rd quarter valued at $214,000. Finally, First Capital Advisors Group LLC. purchased a new position in Targa Resources during the 4th quarter valued at $226,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.
TRGP has been the subject of a number of recent analyst reports. Jefferies Group cut Targa Resources from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Goldman Sachs Group cut Targa Resources from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a report on Tuesday, October 17th. Barclays reissued a “hold” rating and issued a $50.00 price target on shares of Targa Resources in a research report on Thursday, October 19th. Zacks Investment Research lowered Targa Resources from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Finally, BidaskClub lowered Targa Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $55.33.
Shares of Targa Resources Corp (TRGP) remained flat at $$47.03 during mid-day trading on Tuesday. 441,966 shares of the stock traded hands, compared to its average volume of 1,988,407. Targa Resources Corp has a 1 year low of $39.59 and a 1 year high of $60.62. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57. The firm has a market capitalization of $10,110.00, a price-to-earnings ratio of -18.48 and a beta of 2.07.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.74%. Targa Resources’s payout ratio is -143.31%.
In other news, VP John Richard Klein sold 2,292 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.93% of the stock is owned by corporate insiders.
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About Targa Resources
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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