Great Lakes Retirement Inc. Decreases Position in Targa Resources Corp. (NYSE:TRGP)

Great Lakes Retirement Inc. trimmed its holdings in Targa Resources Corp. (NYSE:TRGP) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,516 shares of the pipeline company’s stock after selling 182 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Targa Resources were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRGP. CWM LLC raised its holdings in shares of Targa Resources by 7.2% in the third quarter. CWM LLC now owns 5,358 shares of the pipeline company’s stock worth $793,000 after buying an additional 359 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Targa Resources by 50.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,000 shares of the pipeline company’s stock worth $148,000 after buying an additional 337 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Targa Resources in the third quarter worth approximately $226,000. Ritholtz Wealth Management raised its holdings in shares of Targa Resources by 9.6% in the third quarter. Ritholtz Wealth Management now owns 5,024 shares of the pipeline company’s stock worth $744,000 after buying an additional 440 shares during the period. Finally, CX Institutional bought a new position in Targa Resources in the third quarter worth approximately $198,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Down 1.3 %

Shares of NYSE TRGP opened at $200.57 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.61 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 fifty day simple moving average is $193.42 and its two-hundred day simple moving average is $172.45. Targa Resources Corp. has a 12-month low of $87.44 and a 12-month high of $218.51.

Targa Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

TRGP has been the topic of several research analyst reports. Barclays increased their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada increased their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group increased their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America initiated coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $189.21.

Targa Resources 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.