128,203 Shares in Targa Resources Corp. (NYSE:TRGP) Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in Targa Resources Corp. (NYSE:TRGP – Get Rating) during the third quarter, according to its most recent filing with the SEC. The firm bought 128,203 shares of the pipeline company’s stock, valued at approximately $7,736,000.

A number of other large investors also recently modified their holdings of the company. Ieq Capital LLC raised its position in Targa Resources by 2.9% in the 3rd quarter. Ieq Capital LLC now owns 5,676 shares of the pipeline company’s stock valued at $343,000 after buying an additional 162 shares during the last quarter. Baird Financial Group Inc. raised its position in Targa Resources by 2.7% in the 3rd quarter. Baird Financial Group Inc. now owns 7,125 shares of the pipeline company’s stock valued at $430,000 after buying an additional 189 shares during the last quarter. CWM LLC raised its position in Targa Resources by 12.5% in the 3rd quarter. CWM LLC now owns 1,779 shares of the pipeline company’s stock valued at $107,000 after buying an additional 197 shares during the last quarter. Utah Retirement Systems raised its position in Targa Resources by 0.5% in the 3rd quarter. Utah Retirement Systems now owns 40,330 shares of the pipeline company’s stock valued at $2,433,000 after buying an additional 200 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Targa Resources by 6.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,406 shares of the pipeline company’s stock valued at $235,000 after buying an additional 210 shares during the last quarter. 88.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of analyst reports. Truist Financial increased their price target on Targa Resources from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, November 28th. Mizuho raised their target price on Targa Resources from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Wells Fargo & Company raised their target price on Targa Resources from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Citigroup started coverage on Targa Resources in a research report on Thursday, December 8th. They set a “buy” rating and a $95.00 target price for the company. Finally, StockNews.com started coverage on Targa Resources in a research report on Thursday. They set a “hold” rating for the company. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $97.91.

Targa Resources Stock Down 1.7 %

TRGP stock opened at $67.47 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.64 and a current ratio of 0.77. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 17.34 and a beta of 2.29. Targa Resources Corp. has a fifty-two week low of $55.56 and a fifty-two week high of $81.50. The stock has a fifty day moving average of $74.78 and a 200-day moving average of $71.15.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st were paid a $0.35 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.40 annualized dividend and a yield of 2.07%. Targa Resources’s dividend payout ratio is currently 35.99%.

About Targa Resources

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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation.