Campbell & CO Investment Adviser LLC Decreases Holdings in Targa Resources Corp. (NYSE:TRGP)

Campbell & CO Investment Adviser LLC lessened its position in Targa Resources Corp. (NYSE:TRGPFree Report) by 41.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,842 shares of the pipeline company’s stock after selling 4,189 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Targa Resources were worth $501,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TRGP. Moneta Group Investment Advisors LLC lifted its position in Targa Resources by 104,219.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,241,143 shares of the pipeline company’s stock worth $1,855,224,000 after buying an additional 25,216,947 shares in the last quarter. BlackRock Inc. increased its stake in shares of Targa Resources by 0.4% during the 2nd 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 during the last quarter. State Street Corp grew its stake in Targa Resources by 14.4% in the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company’s stock valued at $591,455,000 after buying an additional 986,283 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Targa Resources by 6.6% in the 1st 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in Targa Resources by 2.6% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP opened at $88.51 on Tuesday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.60 and a current ratio of 0.80. Targa Resources Corp. has a twelve month low of $64.85 and a twelve month high of $91.43. The firm’s 50 day moving average price is $85.58 and its two-hundred day moving average price is $85.31. The firm has a market cap of $19.74 billion, a P/E ratio of 23.17 and a beta of 2.18.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, January 30th. Targa Resources’s payout ratio is currently 52.36%.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Targa Resources

Targa Resources Company 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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