KBC Group NV reduced its stake in shares of Targa Resources, Inc. (NYSE:TRGP – Free Report) by 32.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,906 shares of the pipeline company’s stock after selling 10,343 shares during the quarter. KBC Group NV’s holdings in Targa Resources were worth $5,874,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TRGP. Hardy Reed LLC grew its holdings in shares of Targa Resources by 1.0% during the first quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock worth $1,083,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Targa Resources by 4.1% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock worth $307,000 after purchasing an additional 45 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Targa Resources by 10.5% in the 4th quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock valued at $97,000 after purchasing an additional 50 shares during the last quarter. River Wealth Advisors LLC lifted its holdings in shares of Targa Resources by 0.3% in the 2nd quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock valued at $5,217,000 after purchasing an additional 50 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Targa Resources by 0.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,455 shares of the pipeline company’s stock valued at $1,376,000 after purchasing an additional 51 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.
Targa Resources Stock Performance
NYSE TRGP opened at $275.77 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $291.04. The business’s 50-day moving average price is $269.33 and its 200 day moving average price is $250.72. The firm has a market cap of $59.13 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.38 and a beta of 0.72.
Targa Resources Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. Targa Resources’s payout ratio is presently 47.80%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Truist Financial raised their price target on Targa Resources from $289.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Stifel Nicolaus set a $268.00 price objective on Targa Resources in a research note on Friday, May 8th. Seaport Research Partners reissued a “neutral” rating on shares of Targa Resources in a report on Monday, May 4th. Raymond James Financial set a $335.00 target price on shares of Targa Resources in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus price target of $295.35.
Check Out Our Latest Research Report on TRGP
About Targa Resources
Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.
The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.
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