Nisa Investment Advisors LLC lifted its position in shares of Targa Resources Corp (NYSE:TRGP) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,400 shares of the pipeline company’s stock after purchasing an additional 2,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Targa Resources were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. CNH Partners LLC grew its holdings in shares of Targa Resources by 0.5% during the second quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock worth $981,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Targa Resources by 2.9% in the second quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 155 shares during the period. Profund Advisors LLC lifted its stake in shares of Targa Resources by 3.6% in the second quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 317 shares during the period. Frontier Wealth Management LLC lifted its stake in shares of Targa Resources by 6.2% in the second quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 344 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after acquiring an additional 524 shares during the period. Institutional investors own 87.34% of the company’s stock.
A number of equities analysts recently commented on the company. BidaskClub raised Targa Resources from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Wells Fargo & Co lowered Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, November 7th. ValuEngine lowered Targa Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Barclays reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Targa Resources in a research note on Thursday, October 19th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Targa Resources in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $54.72.
In other Targa Resources news, VP John Richard Klein sold 2,292 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is available through the SEC website. 1.93% of the stock is currently owned by insiders.
Shares of Targa Resources Corp (NYSE TRGP) traded up $0.51 on Wednesday, reaching $47.81. The company’s stock had a trading volume of 1,790,156 shares, compared to its average volume of 2,030,000. Targa Resources Corp has a 12-month low of $39.59 and a 12-month high of $60.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74. The firm has a market capitalization of $10,310.00, a price-to-earnings ratio of -18.82 and a beta of 2.07.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Wednesday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently -143.31%.
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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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