Global Retirement Partners LLC Purchases 1,091 Shares of Targa Resources Corp. (NYSE:TRGP)

Global Retirement Partners LLC increased its position in shares of Targa Resources Corp. (NYSE:TRGP) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,239 shares of the pipeline company’s stock after buying an additional 1,091 shares during the period. Global Retirement Partners LLC’s holdings in Targa Resources were worth $5,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRGP. DT Investment Partners LLC acquired a new position in Targa Resources during the 3rd quarter worth $29,000. Prospera Private Wealth LLC bought a new position in shares of Targa Resources in the third quarter worth about $35,000. Rosenberg Matthew Hamilton lifted its position in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Targa Resources during the 4th quarter valued at approximately $49,000. Finally, UMB Bank n.a. grew its holdings in Targa Resources by 39.6% in the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after buying an additional 106 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Trading Up 1.9 %

TRGP opened at $209.29 on Wednesday. Targa Resources Corp. has a 1-year low of $95.28 and a 1-year high of $218.51. The firm has a 50-day moving average price of $194.24 and a two-hundred day moving average price of $174.41. The stock has a market capitalization of $45.64 billion, a PE ratio of 37.85, a PEG ratio of 0.61 and a beta of 2.29. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Morgan Stanley upped their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. UBS Group upped their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Stifel Nicolaus increased their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.