Avantax Advisory Services Inc. Trims Position in Targa Resources Corp. (NYSE:TRGP)

Avantax Advisory Services Inc. trimmed its position in Targa Resources Corp. (NYSE:TRGPFree Report) by 5.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,956 shares of the pipeline company’s stock after selling 719 shares during the period. Avantax Advisory Services Inc.’s holdings in Targa Resources were worth $1,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its stake in Targa Resources by 104,219.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 25,241,143 shares of the pipeline company’s stock worth $1,855,224,000 after purchasing an additional 25,216,947 shares in the last quarter. BlackRock Inc. grew its stake in Targa Resources by 0.4% in the second quarter. BlackRock Inc. now owns 18,814,613 shares of the pipeline company’s stock worth $1,431,792,000 after purchasing an additional 66,020 shares in the last quarter. State Street Corp grew its stake in Targa Resources by 14.4% in the first quarter. State Street Corp now owns 7,836,957 shares of the pipeline company’s stock worth $591,455,000 after purchasing an additional 986,283 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Targa Resources by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,802,014 shares of the pipeline company’s stock worth $513,349,000 after purchasing an additional 421,874 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Targa Resources by 2.6% in the second quarter. Geode Capital Management LLC now owns 4,796,731 shares of the pipeline company’s stock worth $364,095,000 after purchasing an additional 121,721 shares in the last quarter. 90.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $85.01, for a total transaction of $255,030.00. Following the sale, the director now owns 116,524 shares of the company’s stock, valued at $9,905,705.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TRGP. Truist Financial lifted their price target on Targa Resources from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. UBS Group cut their target price on shares of Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Finally, Barclays raised their target price on shares of Targa Resources from $94.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of “Buy” and an average target price of $105.00.

View Our Latest Stock Analysis on TRGP

Targa Resources Stock Performance

TRGP opened at $87.90 on Friday. The business’s 50 day moving average is $85.66 and its 200-day moving average is $85.16. The stock has a market cap of $19.60 billion, a PE ratio of 23.01 and a beta of 2.18. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 2.81. Targa Resources Corp. has a twelve month low of $64.85 and a twelve month high of $91.43.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Targa Resources’s dividend payout ratio (DPR) is presently 52.36%.

Targa Resources Profile

(Free Report)

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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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