TFG Advisers LLC Sells 142 Shares of Targa Resources Corp. (NYSE:TRGP)

TFG Advisers LLC decreased its position in Targa Resources Corp. (NYSE:TRGP) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,164 shares of the pipeline company’s stock after selling 142 shares during the quarter. TFG Advisers LLC’s holdings in Targa Resources were worth $1,814,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TRGP. MML Investors Services LLC boosted its stake in Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after purchasing an additional 10,100 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after buying an additional 13,167 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in Targa Resources during the 3rd quarter worth about $11,042,000. Capital Investment Advisors LLC lifted its position in Targa Resources by 191.4% during the 4th quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in Targa Resources during the 4th quarter worth about $271,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $201.30 on Friday. The stock has a market cap of $43.90 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The stock has a 50-day moving average of $193.13 and a 200-day moving average of $170.46. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a one year low of $86.56 and a one year high of $218.51.

Targa Resources (NYSE:TRGP) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter in the prior year, the firm earned $0.97 earnings per share. As a group, sell-side analysts expect that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Analyst Ratings Changes

A number of brokerages have weighed in on TRGP. Scotiabank assumed coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price for the company. Morgan Stanley boosted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group increased their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Barclays raised their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Profile

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. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.