Homrich & Berg cut its holdings in shares of Targa Resources Corp (NYSE:TRGP) by 83.0% during the 4th quarter, HoldingsChannel reports. The fund owned 6,435 shares of the pipeline company’s stock after selling 31,521 shares during the period. Homrich & Berg’s holdings in Targa Resources were worth $312,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of TRGP. SeaCrest Wealth Management LLC bought a new stake in shares of Targa Resources in the fourth quarter valued at about $111,000. Searle & CO. bought a new stake in shares of Targa Resources in the fourth quarter valued at about $200,000. Quadrant Private Wealth Management LLC bought a new stake in shares of Targa Resources in the fourth quarter valued at about $203,000. Guyasuta Investment Advisors Inc. bought a new stake in shares of Targa Resources in the third quarter valued at about $206,000. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of Targa Resources in the third quarter valued at about $208,000. Hedge funds and other institutional investors own 88.69% of the company’s stock.
A number of analysts have recently commented on the company. Goldman Sachs Group upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Thursday, February 1st. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price target on shares of Targa Resources in a report on Friday, February 16th. Credit Suisse Group assumed coverage on Targa Resources in a report on Thursday, January 4th. They issued a “neutral” rating and a $46.00 price target on the stock. Barclays upgraded Targa Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $50.00 to $58.00 in a report on Wednesday, January 17th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $60.00 price target on shares of Targa Resources in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.94.
Shares of Targa Resources Corp (NYSE:TRGP) opened at $47.75 on Wednesday. Targa Resources Corp has a twelve month low of $39.59 and a twelve month high of $60.62. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $3.64 annualized dividend and a yield of 7.62%. Targa Resources’s payout ratio is presently -136.84%.
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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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